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Industry associations call for legislative route to resume mining in Goa

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2 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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Mumbai: MahaRERA To Launch New ‘MahaCRITI’ Website On September 1, Existing Portal Offline For Migration On August 30-31

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1 week ago

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August 29, 2024

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Mumbai: MahaRERA To Launch New 'MahaCRITI' Website On September 1, Existing Portal Offline For Migration On August 30-31

The Maharashtra Real Estate Regulatory Authority’s (MahaRERA’s) new website ‘MahaCRITI’ will be launched on September 1 at 00.00 hours. To enable the migration to the new portal, the existing MahaRERA’s website will go offline on August 30 and 31.

During this transition period, the back-end team will perform various technical tasks to provide better user experience.

MahaRERA will also conduct classroom and virtual training for all real estate stakeholders to facilitate familiarity, easy navigation and user friendliness of MahaCRITI.

The training, that commenced on Thursday, will continue on August 30 and September 1 at MahaRERA’s head office situated in Bandra-Kurla Complex. The housing regulator has announced training schedule on the website. Videos on the training demo shall also be made available on MahaRERA’s portal.

The stakeholders are encouraged to participate in these sessions for a hands-on experience with the new system.

The training’s second phase will be available for two weeks after the website goes live on September 1. The training module will also guide the complainants as well as lawyers on complaint registration and its further process.

Developers, promoters and their self-regulatory bodies will be guided on how to use the website effectively for routine tasks such as registration of new housing projects, corrections, extensions as per requirement, quarterly progress reports, annual progress reports and project completion Form 4.

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Business

2025 Yamaha YZF-R15 Launches Globally with Exciting New Features and Color Choices

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3 weeks ago

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August 16, 2024

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Yamaha has launched an updated version of its YZF-R15 in Indonesia, enhancing its entry-level sports bike with new features and a fresh look. The updated model now offers smartphone connectivity, similar to the version available in India. It also introduces a striking-black color option, along with grey/silver/, grey/black, and blue. Despite these upgrades in features and appearance, the bike maintains its original mechanical design, ensuring reliability while appealing to new and existing riders.

The 2025 Yamaha YZF-R15 for the Indonesian market maintains its familiar 155cc single-cylinder engine with VVT, producing 18.1 bhp and 14.2 Nm of torque, and is paired with six-speed transmission. It features a monoshock rear suspension and inverted telescopic front forks, along with dual-channel ABS and disc brakes on both wheels. While it lacks the traction control found on the Indian model, it retains its Deltabox frame, an 11-liter fuel tank, and a total weight of 141 kg, all supported by 17-inch alloy wheels.

The 2025 Yamaha YZF-R15 comes equipped with a range of advanced features, including dual-channel ABS, traction control, a slipper clutch, and a quick shifter. It also features a fully digital instrument cluster that provides not only essential ride information but also ride tracking, onboard diagnostics, and periodic maintenance reminders, enhancing the overall riding experience.

India Yamaha Motor has marked a notable milestone in its manufacturing history with the success of the Yamaha Ray ZR 125 Fi-Hybrid in Europe. This scooter, produced in India, has gained considerable traction across several European nations. From January to July this year, approximately 13,400 units of the Ray ZR 125 Fi Hybrid were sold across 27 European countries.

Consumers have responded positively to the Yamaha Ray ZR 125 Fi Hybrid, appreciating its well-rounded design and features. The scooter has received a positive response across major European markets such as the UK, Spain, France, Italy, Germany, Turkey, Switzerland, Greece, and Portugal.

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Business

Markets Continue To Trade In Red; Sensex & Nifty Decline Further

Published

4 weeks ago

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August 13, 2024

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The Indian markets opened flat on Monday, with Sensex at 79,571.37, down by 77.55 points or 0.10 per cent, and Nifty at 24,320.50, also down by 26.50 points or 0.11 per cent.

Nifty Bank in the morning session was trading low at 50,483.90, down by 94.05 points or 0.19 per cent.

From the Sensex pack, ICICI Bank, NTPC and Kotak Bank were among the major gainers in the morning session, whereas HDFC Bank, Asian Paints and Titans were among the laggards.

From the Nifty tranche, Apollo Hospital, ICICI Bank and Axis Bank were among the gainers, while Shriram Finance, BPCL and Tata Motors were among the losers.

The Indian rupee opened at 83.96 against the dollar.

Markets on Monday

The stock markets ended Friday on a lower note for both the BSE Sensex and the NSE Nifty.

On Monday, August 12, the BSE Sensex decreased by 25.46 points or 0.03 per cent, ending the day at 79,680.45. Similarly, the NSE Nifty dropped by 20.50 points or 0.08 per cent to close at 24,347.00.

Gainers and Losers

Gainers: On the BSE tranche, at the time of writing, major gainers included Axis Bank, JSW Steel and Infosys with gains of over 1 per cent. Voltas made mammoth gains of 10.40 per cent.

Losers: Amongst the losers, NTPC, Power Grid and Adani Ports made gains of over 1 per cent.

Energy and International Markets

U.S. West Texas Intermediate crude (WTI) decreased by 0.90 per cent to USD 79.34 a barrel at 09:08 IST. Brent crude prices also decreased by 0.92 per cent to USD 81.54 a barrel at 09:08 IST.

On Monday, both the S&P 500 and Nasdaq saw a collective jump in their numbers, meanwhile, Dow Jones Industrial Average also saw a drop its value.

The S&P 500 closed at 5,344.39, gaining 0.0043 per cent. The Dow Jones Industrial Average ended at 39,357.01, gaining 0.36 per cent.

Additionally, the Nasdaq Composite saw a rise of 0.21 per cent to reach 16,780.61.

The Asian indices started in Green, while Japan’s Nikkei 225 index gained 2.17 per cent to reach 35,785.55, at the opening of the day’s trade. Hong Kong’s Hang Seng index rose by 0.23 per cent to reach 17,150.75 points. South Korea’s KOSPI observed a drop in its numbers, as it decreased by 0.048 per cent to reach 2,617.05.

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