The government is planning to bring in fresh checks on pricing of natural resources such as iron ore and coal. An inter-ministerial group, led by the steel ministry and Niti Aayog, will begin work soon to determine whether a pricing cap should be put to prevent profiteering by miners.
The development comes at a time when the government has indicated its favour for market-determined pricing for most resources to make the industry globally competitive while targetting subsidy to the most needy.
“Niti Aayog is working on a formula that will determine prices of all natural resources. There should be logic for pricing so that any abnormal spurt in global prices should not result in a sharp increase in domestic prices with the sole intention of profiteering. There should be clear distinction between profit and profiteering,” said a government official privy to the development. Read More…
Credit By : mydigitalfc.com
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