Goa requests MoF to levy nil export duty on low-grade iron ore
Steel

Goa requests MoF to levy nil export duty on low-grade iron ore

The Goa government urged the finance ministry to bring down the duty on low-grade iron ore to nil.

Days after the Centre increased the duty on exports of iron ore to 50%, Chief Minister Pramod Sawant met Union Finance Minister Nirmala Sitharaman urging her to impose nil duty on low-grade iron ore on Monday.

In a bid to raise domestic availability, the Centre has increased the duty on iron ore exports to 50%.

In a statement issued last evening, the chief minister's office said vide notification dated May 21 that the Centre has imposed a 50% duty on exports of all grades of ore.

Goa's ore mainly being low grade and not processed for steel making in the nation, the state has urged the Ministry of Finance to consider nil export duty rather than 505 on low-grade iron ore exports, as was done since 2016, the CMO said.

The state government further told the media that this is required for sustainable mining in Goa.

In Goa, the iron ore mining industry has come to a halt since March 2018 after the Supreme Court stopped all mining leases.

Image Source

Also read: Govt waives customs duty on imports of certain raw materials

The Goa government urged the finance ministry to bring down the duty on low-grade iron ore to nil. Days after the Centre increased the duty on exports of iron ore to 50%, Chief Minister Pramod Sawant met Union Finance Minister Nirmala Sitharaman urging her to impose nil duty on low-grade iron ore on Monday. In a bid to raise domestic availability, the Centre has increased the duty on iron ore exports to 50%. In a statement issued last evening, the chief minister's office said vide notification dated May 21 that the Centre has imposed a 50% duty on exports of all grades of ore. Goa's ore mainly being low grade and not processed for steel making in the nation, the state has urged the Ministry of Finance to consider nil export duty rather than 505 on low-grade iron ore exports, as was done since 2016, the CMO said. The state government further told the media that this is required for sustainable mining in Goa. In Goa, the iron ore mining industry has come to a halt since March 2018 after the Supreme Court stopped all mining leases. Image Source Also read: Govt waives customs duty on imports of certain raw materials

Next Story
Infrastructure Transport

Railway stations in Prayagraj undergo major passenger facility expansion

The Railway Board Chairman and CEO, Satish Kumar, conducted an extensive inspection on Saturday alongside the General Manager of Northern Railway and the officiating General Manager of North Central Railway. Their visit focused on various ongoing projects at multiple stations across the Northern and North Central Railway zones, with particular attention to enhancing facilities for the upcoming Maha Kumbh. During the inspection, Chairman Kumar reviewed the construction of a vital bridge over the River Ganga, specifically between Jhunsi and Prayagraj Rambagh. This bridge is expected to significa..

Next Story
Infrastructure Transport

Madurai-Thoothukudi broad gauge line works under review

The construction of the Madurai-Thoothukudi broad gauge line, which includes the crucial Melmarudur-Tiruparankundram project, is currently under careful review. This update comes from Southern Railway's assistant public information officer, J Kumarasubramanian, following an RTI inquiry made by a concerned citizen, Dayanand Krishnan. The new broad gauge line is projected to cover a total length of 143.5 km, with the initial 18 km stretch between Milavittan and Melmarudur completed and sanctioned by the Commission of Railway Safety on March 8, 2022. While substantial progress has been made on t..

Next Story
Real Estate

DLF expects Rs 26,000 cr from super luxury project in Gurugram

Realty giant DLF is projecting impressive revenue of Rs 26,000 crore from its newly unveiled super-luxury project, The Dahlias, situated in the heart of Gurugram. Ashok Tyagi, the Managing Director of DLF, shared these insights during a recent conference call with market analysts, highlighting the project's potential amidst rising demand for high-end residential properties. The Dahlias project spans an expansive 17 acres and is set to feature approximately 420 ultra-luxury apartments, each boasting a minimum size of 10,300 square feet. This ambitious development has already garnered significan..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000