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Sunday, June 15, 2014

Declare mining as infrastructure sector: CII to Govt
New Delhi, June 10, 2014: Industry body CII has asked the government to declare mining as a strategic and infrastructure sector which is critical for the manufacturing growth of the nation.

In a recent presentation to the Mines Ministry, CII also highlighted importance of the sector in creating employment, preventing drain of valuable forex and propelling growth in some of the most backward states.

It said that critical steps such as allowing transfer of mining licences from one company to another seamlessly could be taken with almost immediate effect.

The industry body has also pitched for a reduction in the role of GSI as an explorer and instead focus its activities in creating an environment which attracts exploration activity.

"We believe that capacity building within state machinery should be expedited so that deemed approvals do not have to be resorted to; instead the approval process should be such that time bound renewals can take place," CII said.

With regard to the proposed changes in fiscal imposts, CII would like to reiterate that the Indian mining sector is one of the most heavily taxed in the world.

"Therefore, any attempts to levy further imposts must take that into account. While we understand that government's need to contribute funds towards the development of community, levies if any to need to be calibrated in a manner that still retains the viability of the mining projects." it said. 

Courtesy: Zee News
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