| Date: |
10-11-2014 |
| Subject: |
Mining ban has been an absolute disaster: Sesa Sterlite official |
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PANAJI: The mining ban has been an absolute disaster and the delay in resumption is costing the government dearly, said Aniruddha Joshi, vice-president (corporate affairs) and member of managing committee, Sesa Sterlite Ltd.
"Due to the two-year mining ban, around 80 to 100 tonnes of iron ore production and exports worth $8bn or 48,000 crore were lost - almost 50% (25,000 crore) of which would have been received by state and central government as taxes, export duties, royalties, VAT, etc," he added.
Joshi was speaking as the chief guest at a one-day workshop recently held by Sesa Sterlite Limited titled 'Vedanta Taksasila' for mechanical engineering students at Don Bosco College of Engineering, Fatorda.
"Goa trades its iron ore as it cannot be used in India due to its low quality. Even this export will be a difficult task if the government doesn't abolish the 30% export duty, as the prices in the international markets have crashed," opined Joshi.
Source : timesofindia.indiatimes.com
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