'Mining sector can contribute Rs 11.25 lakh crore to GDP'

Govt has prepared a strategic plan document 'Unlocking the potential of the Indian Mineral Sector, says MinesMin Dinsha Patel

The mining sector has the potential to contribute up to Rs 11.25 lakh crore to the GDP by 2025 and create 15 million jobs, Mines Minister Dinsha Patel said today.

"Government has prepared a strategic plan document 'Unlocking the potential of the Indian Mineral Sector'....The mining sector has the potential to contribute around Rs 945 to Rs 1,125 thousand crore to the GDP and create 13-15 million jobs through direct and indirect contribution by 2025," Patel told Rajya Sabha in a written reply.

The strategy paper has been prepared taking into account the vision emanating from the National Mineral Policy, 2008, he said, adding that the mineral being a major resource for development, its extraction and management has to be integrated into the overall strategy of economic development.

"The strategy paper has identified six key priorities which include enhancing resource and reserve base through exploration and international acquisition, reducing permit delays, putting in place core enablers (infrastructure, human capital, technology), ensuring sustainable mining and sustainable development," Patel said.

About mineral-rich Jharkhand's contribution to state's GDP, he said it was expected to touch 14.1% of the Gross Domestic Product by 2025 from 9.1% in 2009.

Also, the number of persons employed in the mining sector is expected to increase to 5.6 lakh in 2025 from 3.2 lakh in 2009.

"The strategy paper also expects royalty collection in Jharkhand to increase from Rs 1,800 crore in 2009 to about Rs 8,800 crore in 2025," Patel said.