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Industry associations call for legislative route to resume mining in Goa

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3 years ago

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With the BJP getting re-elected in Goa, the call for resuming mining operations in the state has grown louder. It has been four years since mining was stopped in Goa and industry associations claim that the ban has severely hurt the state’s economy, along with adversely affecting people’s livelihoods. According to a recent survey, nearly two in five Goan households have been impacted by the mining ban in some way or the other.

Despite several appeals by different stakeholders to the government in the past, no action has been taken on the ground. In a fresh set of recommendations, CII Goa State Council and Goa Chamber of Commerce & Industry (GCCI) have urged to immediately resume sustainable mining to revive the state economy.

Last week, the Goa Mining People’s Front (GMPF) too urged the state and central leadership to act in the matter. In February 2018, the Supreme Court quashed 88 mining leases in Goa, bringing the local iron ore industry to a standstill. The decision affected the livelihoods of over 3 lakh mining dependents in the state.

Recommendations have been made by CII Goa to the Centre and State to resume mining in the State. CII as an apex industry body strongly recommends the resumption of sustainable mining to bring Goa’s economy back on track. Though great efforts have been put in by various industry bodies in the state, very little has been seen on ground.

Since the mining concessions which were given in perpetuity under Portuguese Law were converted into Mining Leases by the Abolition Act 1987, it is only fair that the benefit of a tenure of 50 years from date of grant which is available to leases throughout the country as per the 2015 MMDR Amendment Act, be made available to Goan leases. Though the leases came into being in 1987, the tenure was made effective retrospectively from 1961 to protect the revenue collected by the state government from 1961-1987.

This retrospective application of the Act has been struck down by the High Court and the issue is pending before a 9 judge bench of the Hon’ble Supreme Court. The Ministry of Mines has even filed an application before the Hon’ble Supreme Court urging that the matter be expeditiously heard since till then, no further action can be taken with respect to the leases. Under the circumstances, a legislative cure as suggested above is the only option for a swift resumption of mining which is a source of revenue not only to the government but also to many secondary and tertiary industries in Goa.

It’s also relevant to point out that almost 30 per cent of the sale price of ore produced goes to the State exchequer in the form of royalty, contribution to District Mineral Fund, Iron ore Permanent Fund etc. “There is an urgent need for the authorities to take necessary decisions in the interest and growth of the state” said Swati Salgaocar, Chairperson, CII Goa State Council.

Voicing similar concerns, Ralph De Sousa, President, Goa Chamber of Commerce & Industry (GCCI), said, “Mining is the lifeline of Goan economy. Mining is going on normally all over the Country except goa. It’s up to the Central Govt to restart Mining with proper checks & balances. GCCI strongly feels that the State’s Commerce and Industry needs a boost to get over the current economic lull that is caused due to mining closure for the last 4 years and further worsened with Covid pandemic. The Ukraine war may further affect the business some way or the other. Need of the hour is that both these sectors have to jump start to tide over the economic crisis for overall socio-economic development of the state. We have already represented to the state Government for its immediate attention to resolve the mining matter in a sustainable yet quickest possible manner. GCCI membership is awaiting the opportunity to benefit from mining which will in turn address the unemployment crisis of the state.”

Glenn Kalavampara, Secretary, Goa Mineral Ore Exporters Association said, “The Wealth of the Minerals are meaningless unless they are extracted, processed & converted into goods, meant for the benefit of mankind. It’s rather unfortunate that despite generating valuable economic returns as well as providing livelihood to many, mining in Goa had been under a constant suspension since Mid-March 2018. Concerned Stakeholders have repeatedly been raising concerns & hopeful of a solution since long. Post 4 years, the stakeholders dependent on the mining operations have only undergone endless pain, depression and anxieties.”

The industry associations have said that mining activities should be immediately resumed in the state to undo the livelihood and economic deadlock and allow Goans to earn a stable income and work for a better future.

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Indian Railways Introduces Discounted ‘Round Trip Package’ To Ease Festive Season Travel

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6 days ago

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August 9, 2025

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New Delhi: To avoid rush by ensuring hassle-free ticket booking experience during the upcoming peak festive seasons, the Ministry of Railways on Saturday said that it has decided to formulate a ‘Round Trip Package’ on discounted fare and rebates benefit.

The move will facilitate passengers and redistribute the peak traffic for a larger range during peak festival seasons and ensure both sides utilisation of trains, including special trains.

“It has been decided to formulate an experimental scheme named as Round Trip Package for festival rush on discounted fare,” the Railways Ministry stated.

According to the ministry, the scheme will be applicable for those passengers who choose their return journey during the prescribed period.

Under this scheme, rebates shall be applicable when booked for both the onward and return journey for the same set of passengers.

Passenger details of the return journey will be the same as those of the onward journey. Passengers can book their tickets from August 14 for the advance reservation period (ARP) date of October 13.

“An onward ticket shall be booked first for the train start date between 13th October 2025 and 26th October 2025, and subsequently return journey ticket shall be booked by using the connecting journey feature for the train start date between 17th November and 1st December 2025,” the Ministry stated.

However, advance reservation period will not be applicable for booking of return journey.

Other conditions to avail the benefits of the railway’s new special scheme are the booking shall be permissible only for confirmed tickets in both directions, total rebates of 20 per cent shall be granted on base fare of return journey only, booking under this scheme shall be for the same class and same O-D pair for both onward and return journey.

According to Railways, no refund of fare shall be permissible for the tickets booked under this scheme.

This scheme shall be allowed for all classes and in all trains, including special trains (Trains on demand), except trains having Flexi fare.

In addition, no modification will be allowed on these tickets in either of the journeys, and there will be no discounts, Rail travel coupons, Voucher-based bookings, or Passes be admissible during return journey booking on concessional fare.

Passenger can book their ticket via both online and offline modes; however, both onward and return journey tickets must be booked using the same mode (online or offline).

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Business

Sensex crosses 81,000 Mark, Nifty Jumps 157 Points On Strong Metal & Auto Stocks

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2 weeks ago

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August 4, 2025

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Mumbai: The Indian stock market ended Monday on a strong note, with the BSE Sensex rising 418.81 points (0.52%) to close at 81,018.72, crossing the key 81,000 mark. During the day, it touched a high of 81,093.19. The NSE Nifty also surged by 157.40 points (0.64%) to end at 24,722.75, after hitting an intraday high of 24,734.65.

Top gainers and losers

Among major gainers on the Sensex were Tata Steel, BEL, Adani Ports, TCS, Tech Mahindra, Bharti Airtel, HCL Tech, Trent, M&M, Reliance Industries, UltraTech Cement and L&T.

On the flip side, Power Grid, HDFC Bank, ICICI Bank, and Hindustan Unilever ended the session with losses.

Why the market rallied

The market’s rally was mainly driven by strong performances in the metal and auto sectors. According to experts, a weakening US dollar, strong auto sales, and positive Q1 results from key companies helped boost investor confidence.

Vinod Nair, Head of Research at Geojit Financial Services, said,

“Consumption-driven companies are showing recovery in volume demand. Also, weak US job data may lead to interest rate cuts by the Federal Reserve.”

Global cues positive

Asian markets mostly ended in the green with Hong Kong, South Korea, and China posting gains. However, Japan’s Nikkei closed in red.

European markets were trading positively, while US markets had ended lower on Friday.

Oil prices also slipped, with Brent crude falling 1.15% to USD 68.87 per barrel.

Meanwhile, Foreign Institutional Investors (FIIs) sold shares worth Rs 3,366.40 crore on Friday, as per exchange data.

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India Lost ₹22,842 Crore To Cybercriminals & Fraudsters In 2024: DataLEADS

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2 weeks ago

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August 2, 2025

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India lost Rs 22,842 crore to cybercriminals and fraudsters in 2024, DataLEADS, a Delhi-based media and tech company, said in its report on widespread digital financial frauds in the country. The amount stolen by digital criminals and fraudsters last year was nearly three times more than the Rs 7,465 crore in 2023 and almost 10 times more than the Rs 2,306 in 2022, DataLEADS said in ‘Contours of Cybercrime: Persistent and Emerging Risk of Online Financial Frauds and Deepfakes in India.

Prediction For Cyber-Crime Frauds

The Indian Cybercrime Coordination Centre, I4C, a federal agency that liaises between state and central law enforcement, predicts Indians will lose over Rs 1.2 lakh crore this year. The number of cybercrime complaints has spiked similarly; nearly twenty lakh were reported in 2024, up from around 15.6 lakh the year before and ten times more than were logged in 2019.

The surge in the number of cybercrime complaints and the volume of money lost points to one inescapable conclusion – India’s digital crooks are getting smarter and more efficient, and, in a country with a staggering nearly 290 lakh unemployed people, their ranks are increasing.

Bank-related frauds have increased dramatically; the Reserve Bank of India reported a nearly eightfold jump in the first half of FY 2025/26 compared to the same period last year. And the amount of money lost was staggering – Rs 2,623 crore to Rs 21,367 crore. Private sector banks accounted for nearly 60 per cent of all such incidents. But it was customers in public sector banks who were worst-hit; they lost Rs 25,667 crore in all.

Why have these numbers jumped so much over the past three years?

Because of the increased use of digital payment modes – i.e., smartphone-enabled services like Paytm and PhonePe – and the sharing and processing of financial details online – via (what many believe are encrypted and fail-safe) messaging platforms like WhatsApp and Telegram.

Federal data says there were over 190 lakh UPI, or unified payment interface, transactions in June 2025 alone, and these were worth a combined Rs 24.03 lakh crore. Digital payments’ value has grown from roughly Rs 162 crore in 2013 to Rs 18,120.82 crore in January 2025, and India accounts for nearly half of all such payments worldwide.

COVID-19

Much of this increase can be attributed to the pandemic and the subsequent lockdowns.

During COVID-19, the government pushed for a switch to UPI apps like Paytm to ensure social distancing and minimise contact with currency notes, via which the virus could be transmitted.

Digital Payment Tools In Rural Areas

The government also reasoned that digital payment tools would ensure greater penetration of financial services, particularly in rural areas. By 2019, India already had 440 million smartphone users and data rates were among the cheapest in the world – 1 GB cost Rs 200, or less than $3.

Insurance sector scams were also common. These included life, health, vehicle, and general, and are becoming an increasingly lucrative option for cybercriminals, particularly as insurance companies urge customers to opt for app-based services.

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