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Mining units unhappy

Our Bureau

NEW DELHI, Feb. 28

THE country's mining and mineral industry is not quite happy with the this year's Budget. According to the Federation of Indian Mining Industries (FIMI), "there has not been any significant rationalisation in the tax and duty structure to benefit the mining industry.''

According to FIMI, the lower customs duty has poised severe threat on the sustainability of certain minerals like graphite and therefore it was suggested that the customs duty should be revised upwards to safeguard the Indian industry from cheap imports as the cost of production in India is high because of high power and infrastructure cost, which has not happened.

The major impact on mining industry would be the rise in the cost of diesel as major minerals are low value high volume commodities where any slight change in the freight would have significant impact.

Article E-Mail :: Comment :: Syndication

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