The Indian mining sector’s contribution to the gross domestic product (GDP) needs to more than double for the country to reach a double-digit growth rate, said industry body, Federation of Indian Chambers of Commerce & Industry (FICCI) in a presentation.
Industrial production growth slipped to a three-month low of 4.3 per cent in August mainly due to a sharp decline in the mining sector output and poor offtake of capital goods, according to the Central Statistics Office (CSO) data.
Prime Minister Narendra Modi on Tuesday reviewed the progress of key infrastructure sectors of power, renewable energy, petroleum and natural gas, coal, and mining.
Illegal mining in Gonda district of Uttar Pradesh has caused a loss of royalty of Rs 93.04 crore to the state government, the National Green Tribunal has been told by a committee constituted by it.
India’s 150 poorest but mineral-rich districts could get a major facelift in the next one year, coinciding with the 2019 general elections, provided the state governments are able to spend over ~18,800 crore they have from mining companies under the district mining fund.
India is seeking rights to mine for gold and diamonds in Russia’s resource-rich Far East, Trade Minister Suresh Prabhu told Reuters on Tuesday.
Industrial output grew by 4.4 per cent in March, the slowest in five months, due to a fall in capital goods production and deceleration in mining activity, according to the official data.
The Central government is expected to get Rs 8,044 crore as interim dividend from state-owned Coal India Ltd for the fiscal year 2017-18.
Centre’s move to allow private sector to commercially mine coal will boost both production and mining efficiency.
Australian mining legend Lang Hancock’s dream four decades ago of exporting coal from the country’s remote Galilee Basin is becoming a nightmare for two Indian conglomerates.