Jaitley's Union Budget fails to bring relief for Goa mining industry

Panaji: Mine owners of Goa today said they are disappointed with the Budget as their demand of scrapping export duty on iron ore has not been addressed.

 Jaitleys Union Budget fails to bring relief for Goa mining industryWith the mining sector reeling under crisis due to a long-term ban and falling international iron ore prices, industry players were expecting the government to abolish export duty that would have reduced taxation on this sector.

Goa Mineral Ore Exports Association (GMOEA) Secretary Glenn Kalavampara told reporters here that they had a lot of expectations from the Budget, especially on a complete scrapping or cut in export duty.

"May be in future there will be some correction done by the government. Unless high export duty is abolished, it would be difficult to resume the iron ore exports. Or (else) we have to wait for international prices to improve," he said.

The Budget has doomed the prospects of resumption of mining activities which are on halt since last two years, owner of one of the major mines said on condition of anonymity.

Meanwhile, Goa Chamber of Commerce and Industry (GCCI) welcomed the Budget and said it has a vision for India over the years with common man as its focus point.

PTI

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Updated Date: Feb 28, 2015 16:30:33 IST