"Economic trajectory of the nation has to be decided by the government. It should not be decided by others (pillars of democracy). Mining is basic pillar of economy. We are cutting down the basic pillars of economy, I only hope that the national building of economy does not come down," Parrikar said inaugurating a two-day seminar on 'sustainable mining' organised by Federation of Indian Mineral Industries.
Sustainability cannot be seen only from ecological angle and it has to be also seen from economic angle, he said.
"Until you do all this exercise and balance it properly, I don't see that the nation's economic trajectory can take off," he commented.
Parrikar said the energy that we use for various purposes needs to be conserved.
"Real formula for inter generational conservation is international generational consumption. Mining basically started because we all started consuming," he said.
Voicing his concern over the regulatory mechanisms, he said such things create problems.
"Previous five years, I have seen regulatory mechanism binding every sector with such a tight knot that the sector has become defunct," he said.
"Regulatory mechanisms are creating more problems, whether electricity, telephone regulatory or other regulatory bodies. We have to first find out what is our requirement, I don't advocate unwarranted growth but we are the biggest country with biggest iron ore resources.
"If we start importing the resources that we already have like iron ore or coal, then I am sure we will have to be worried about the economy as the capital will go out of the country," Parrikar said.
Those who talk of banning mining should first stop using cars and switch over to cycle, he said.
"We don't have right to talk about environment if we are using cars. We are also damaging the environment," the chief minister said.