Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnAISquareMore
India’s Jharkhand state CM urges Modi to rethink mining bill, citing revenue hit

India’s Jharkhand state CM urges Modi to rethink mining bill, citing revenue hit

Mining.comMining.com2026/08/14 17:03

The chief minister of the Indian state of Jharkhand has urged Prime Minister Narendra Modi to reconsider a bill that would restrict states’ ability to levy charges on mining activities.

In an August 13 letter to Modi posted on X, CM Hemant Soren said the state’s Mineral Bearing Land Cess was expected to generate about 71.1 billion rupees ($744.97 million) a year and that mining-related revenue was critical to the eastern state’s finances.

Soren said that mining revenue accounted for 84.9% of Jharkhand’s own non-tax revenue in fiscal year 2024-25.

“Any substantial restriction on this revenue would directly affect Jharkhand’s ability to sustain development, welfare and social-security interventions,” Soren said.

India’s parliament on Thursday passed a bill that will restrict state ​governments from imposing new taxes ‌or other levies on mineral rights and mineral-bearing land unless permitted under conditions ​set by the federal government.

The bill aims to ⁠create a uniform tax framework ​for the mining sector and address what ​the federal government says is excessive and uneven fiscal burden on miners across states.

The fallout could go beyond government finances, Soren said, raising public discontent and social tensions in communities that have long borne the costs of mining.

($1 = 95.4400 Indian rupees)

(Reporting by Jatindra Dash and Abhinav Parmar; Editing by Sonia Cheema)

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

Global economy risks fragmentation! Australia bets on AI as a new growth engine

In a potentially more fragmented and unpredictable global economy over the next 40 years, Australia relies on the deployment and development of artificial intelligence (AI) to drive economic growth.

智通财经2026/09/21 04:01

Europe’s aviation fuel “red alert” in the fourth quarter: Shortfall will reach 510,000 barrels/day, South Korea’s exports surge to a four-year high to urgently fill the gap

According to analysts and shipping data, Europe will face a supply gap for aviation fuel in the fourth quarter, even as it turns to distant suppliers such as South Korea. South Korea's aviation fuel exports to Europe in September are set to reach a four-year high.

智通财经2026/09/21 03:56

Apple (AAPL.US) nears a 5 trillion USD market capitalization, targeting Nvidia: the 1,999 USD foldable screen Duo becomes a critical battle.

Apple (AAPL.US) has unveiled its new iPhone, which could be the ticket for this consumer tech giant to reclaim its position as the most valuable company by market capitalization. The company is not far from reaching this goal.

智通财经2026/09/21 03:26

Facebook and Instagram under Meta (META.US) experienced outages affecting thousands of users in the US last Sunday.

Thousands of users in the United States were unable to access Meta’s social platforms Facebook and Instagram last Sunday.

智通财经2026/09/21 03:21