The Federation of Minor Minerals Industry (FEMMI) national general secretary C. H. Rao urged NITI Aayog to implement uniform mineral policy across India in the name of One Nation-One Mineral-One Tax’ system to ensure supply of minerals in a transparent and simplified manner which would ensure speedy growth of industries in the country.
Along with FEMMI vice-president P. Ramakrishna, he submitted a memorandum to NITI Aayog member V. K. Saraswat in New Delhi a couple of days ago while explaining heavy tax burden and complicated procedures being adopted by various States in extraction of mineral wealth.
Mr. Rao who recently organised a meeting with stakeholders of mineral business activities in Srikakulam told The Hindu on September 19 that many experienced persons were also hesitating to take mining leases and participate in auctions with complicated procedures.
According to him lease holders are burdened with consideration tax, pandemic tax, premium tax, security deposit, production shortfall tax. The supply of minerals was affected very badly with the extraction process was stalled at many areas such as Srikakulam and Vizianagaram other places.
“We requested the Union government to make necessary changes in Minor Mineral Development and Regulation Act-1957 to simplify procedures and give necessary instructions to the States as the subject comes under concurrent list. One Nation-One Tax system will force all State governments to adopt rules in accordance to the guidelines of the Union government.,” said Mr. Rao.
