Mining Industry is in danger – Part-4
Jan 29 2017
The Risk involved in Mining has shifted towards Mining Business and Return towards Government.
The case was other way around few years back as shown in the figure below:
From the above mentioned, facts it is very clear that the margin for doing Business in Mining has been substantially reduced. It would be an impetus for Indian Mining Industry if the overall taxation is reduced to around 40% (Global Average).It may also be mentioned that after the enactment of the amended act, out of 42 mines only one dozen mines could be allocated through auction. No fresh mine has come to the production as of now.
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