India, Aug. 13 -- The Government of India has issued a release:
Any fiscal load on mineral extraction must follow a uniform and balanced framework nationwide. Levies should never outweigh mining's economic value or profitability. The State, as trustee of natural resources, holds responsibility to protect national interest. It must ensure harmonised mineral growth across India, instead of uneven, localised pockets of resource-driven expansion.
BEFORE
AFTER
Mineral-bearing lands were outside the Union's regulatory reach.
Mineral-bearing lands are brought under Union regulation.
Mining was taxed differently in every State.
A single, Centre-directed tax framework will apply under New Section 9D.
New levies could be introduced even after...