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Article

22 Sep 2010

Author:
Economic Times [India]

Finalising Mining Bill as per GoM's suggestions: Mines Secy [India]

Amid a furore over 26 per cent profit-sharing with locals under the proposed new mining law and demands for watering down the provision for PSUs, the Mines Ministry today said its final draft will go with the recommendations of the Group of Ministers... [Jindal Steel & Power] has...termed the proposed 26 per profit-sharing regime to be too high. [T]he Tatas have also criticised the proposed levy and asked the government not to charge it as a separate tax, saying that social obligation is part of the operating cost of the company.