Business Standard

Goa govt urges finance ministry to levy 'nil' export duty on low-grade ore

Days after the Centre hiked the duty on exports of iron ore to 50 per cent, the Goa government has urged the Union finance ministry to bring down the duty on low-grade ore to 'nil'

Photo: Bloomberg

Photo: Bloomberg

Press Trust of India Panaji
Days after the Centre hiked the duty on exports of iron ore to 50 per cent, the Goa government has urged the Union finance ministry to bring down the duty on low-grade ore to 'nil'.
Chief Minister Pramod Sawant on Monday met Union Finance Minister Nirmala Sitharaman in New Delhi urging her to impose 'nil' duty on low-grade ore.
In a bid to increase domestic availability, the Centre has hiked the duty on exports of iron ore to 50 per cent.
In a statement issued last evening, the chief minister's office said "vide notification dated May 21 the Central government has levied 50 per cent duty on exports of all grades of iron ore".
"Goa's ore largely being low grade (that is below 50 per cent Fe) and not processed for steel making in the country, the state has requested the ministry of finance to consider 'nil' export duty instead of 50 per cent on low grade iron ore exports, as was done since 2016," the CMO stated.
The state government further said that "this is necessary for sustainable mining in the state".
The iron ore mining industry in Goa has come to a standstill since March 2018 after the Supreme Court quashed all mining leases.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: May 24 2022 | 2:14 PM IST

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