PANAJI: The mining associations, the Goa Mining Association (GMA) and the Goa Mineral Ore Exporter’s Association (GMOEA), demanded on that the State government rationalize the stamp duty in order to ensure the growth and sustainability of the industry, which has been closed since February 2018.
In their joint meeting with Chief Minister Pramod Sawant, the members of GMOEA and GMA urged the prompt restart of mining operations with regard to the nine mineral blocks that were up for e-auction.
In a joint statement, the Associations stated that “this resumption is slated to play a pivotal role in boosting the state’s economic growth, with positive ripple effects on ancillary industries such as truck transport, barges, shops, and more.”
The Association said in the memorandum that the government should rationalize stamp duty appropriately and that its members who have been successful in obtaining leases would be happy to participate in the talks whenever the government calls for them to do so.
Concerning the stamp duty provisions pertaining to the nine blocks that were successfully auctioned off in two phases recently, the industry associations expressed grave concerns.
Glenn Kalavampara, general secretary of the GMOEA, stated that reasonable and reasonable fees are expected, given the difficulties in the market, increased acquisition costs, and ease of conducting business.
“In response, the Chief Minister has been asked to propose a rationalization of stamp duty in order to guarantee the expansion and sustainability of the mining industry in Goa. They stated that such an amendment is thought to be essential for resolving the present issues and creating a mining industry regulatory framework that encourages and facilitates ease of doing business in Goa.
According to the Associations, the mining reforms recommended by industry associations will contribute to the state’s socioeconomic development and job prospects, thereby realizing Swayampurna Goa’s overarching goal.