{"id":36315,"date":"2022-04-16T16:17:48","date_gmt":"2022-04-16T10:47:48","guid":{"rendered":"https:\/\/tradebrains.in\/features\/book-minerals\/"},"modified":"2022-04-16T19:24:19","modified_gmt":"2022-04-16T13:54:19","slug":"book-minerals","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/book-minerals\/","title":{"rendered":"Govt must revisit mineral policies to accelerate GDP: Book"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3750564810\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Apr 16 (PTI) There is an urgent need for mineral sector reforms to accelerate GDP and boost exports, says a book which also suggests that all existing and future &#8220;captive mines&#8221; may be converted to &#8220;merchant mines&#8221; enabling to increase supply of minerals and coal to small or medium-sized businesses.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2640983878\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>In &#8220;Jan Andolan: For Turning Around India&#8221;, entrepreneur R P Gupta discusses burning issues pertaining to the Indian economy and says Indian businessmen must play a vital role to make the country prosperous and vibrant.<\/p>\n<p>He says minerals and primary energy (coal, petroleum and gas) are basic inputs for the development of modern industrial economy and India must spend heavily to ensure surplus availability of these mineral resources and reduce import dependency.<\/p>\n<p>&#8220;For this, the mineral policies and associated regulations should be facilitated. High royalty, taxation and logistics cost on the basic minerals are misplaced choices. Currently, these are increasing the cost of metals and power affecting the global competitiveness in most of the manufactured products. For accelerating GDP and boosting exports, India must revisit mineral policies. Eventually, that will generate several direct and indirect jobs,&#8221; he suggests.<\/p><div class=\"trade-content_5\" id=\"trade-62189629\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>According to Gupta, after 2001, India had witnessed industrial growth of 12-15 per cent which could not sustain due to shortage of minerals and coal.\u00a0 \tExcess regulatory controls superseded the facilitation leading to closure of mines and causing further shortage, he says, adding its impact travelled to the entire economy and invited inflation and trade deficit.<\/p>\n<p>&#8220;Regulatory phobia was extended to minor minerals such as sand and stone aggregates. Production was curbed and the artificial shortage was crafted leading to abnormal price hikes. Hence, the construction cost was inflated affecting the Infrastructure projects and construction sector affecting the job growth,&#8221; he writes.<\/p>\n<p>During 2014-20, lease periods of existing mines were extended. This could avoid disruption of mineral production till 2020 for merchant mines and 2030 for captive mines. Auction system was introduced for granting new mining leases which expedited the process with transparency. But these reforms couldn&#8217;t give any major push to mineral production, Gupta says.<\/p>\n<p>Due to shortage of minerals and coal, the pithead sale price of minerals (including royalty and premium) is too high compared to peer nations, he feels.<\/p>\n<p>Logistic cost is also high due to the transporter&#8217;s cartel at mines and inadequate railway infrastructure. This is escalating the cost of all manufactured products. Hence, the mineral sector needs major reforms to avert future crisis, he says.<\/p>\n<p>Among the suggestions, he says for existing mines, the land acquisition, surface rights and other approvals may be facilitated enabling to boost production.<\/p><div class=\"trade-content-10\" id=\"trade-2345530177\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>All existing and future &#8220;captive mines&#8221; may be converted to &#8220;merchant mines&#8221; enabling to increase supply of minerals and coal to SME consumers; those can&#8217;t afford to own captive mines, Gupta writes.<\/p>\n<p>&#8220;Royalty and auction premium&#8221; may be levied on the actual sale price, similar to excise and GST, instead of IBM price list which doesn&#8217;t consider mines location, logistic cost and the mineral grade, size and mineralogy, he says.<\/p>\n<p>He also says that for reducing logistic cost, transporters&#8217; cartel at mines must be abolished. PTI ZMN  RB RB<\/p>\n<div class=\"trade-after-content\" id=\"trade-2111428757\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Apr 16 (PTI) There is an urgent need for mineral sector reforms to accelerate GDP and boost exports, says a book which also suggests that all existing and future &#8220;captive mines&#8221; may be converted to &#8220;merchant mines&#8221; enabling to increase supply of minerals and coal to small or medium-sized businesses. In &#8220;Jan Andolan: [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-36315","post","type-post","status-publish","format-standard","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Govt must revisit mineral policies to accelerate GDP: Book - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/book-minerals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt must revisit mineral policies to accelerate GDP: Book\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Apr 16 (PTI) There is an urgent need for mineral sector reforms to accelerate GDP and boost exports, says a book which also suggests that all existing and future &#8220;captive mines&#8221; may be converted to &#8220;merchant mines&#8221; enabling to increase supply of minerals and coal to small or medium-sized businesses. 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