FEMMI asks NITI Aayog to Recommend ‘One Nation-One Mineral-One Tax’ policy

FEMMI - NITI Aayog - One Nation-One Mineral-One Tax policy - taxscan

The Federation of Minor Minerals Industry (FEMMI) secretary general Ch. Rao and vice-president B.V. Subba Rao requested the National Institution for Transforming India (NITI) Aayog to recommend the Union government for the implementation of ‘One Nation-One Mineral-One Tax’ policy, to ensure uniformity in all issues with regard to mining industry across the country. 

“Reforms in tax structure are the need of the hour as the mining industry is facing multiple challenges in several States including Andhra Pradesh and Telangana, where hundreds of quarries were closed with the collection of huge taxes and royalties. We also oppose auction policy for minor minerals as it led to unhealthy competition among the entrepreneurs whose investments were stuck up due to many reasons,” Mr. Rao said.

The association urged for a transparent tax system, level playing opportunities for all stakeholders and leases for longer periods and other matters. Federation of Indian Mineral Industries (FIMI), Mining Engineers Association of India (MEAI) and other associations agreed with the suggestions of FEMMI which presented a detailed note to NITI Aayog.

The federation submitted a detailed report to the NITI Aayog member V.K. Saraswat, NITI Aayog senior advisor (Industries) Ishtiyaque Ahmed, in the presence of Union Ministry of Mines Secretary V.L. Kanata Rao during the inter-ministerial committee meeting organised by the planning body in New Delhi.

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