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Jharkhand Minister Seeks Mineral Cess Power, GST Compensation
Jharkhand Finance Minister Radhakrishna Kishore asked the central government for more financial support.
He wants Jharkhand to regain the power to charge a cess on land containing minerals.
He said a recent change to the mining law could cost the state about Rs 14,000 crore.
He also said the state may be unable to collect Rs 1.36 lakh crore claimed from coal companies.
Kishore said GST and the VB-G RAM G scheme have also caused financial losses for Jharkhand.
He asked the Centre to compensate the state for those losses.
He also wants the government to restore a 90:10 funding arrangement for the scheme.
He made these requests at a national finance conference in New Delhi.
Jharkhand Finance Minister Radhakrishna Kishore urged the Centre to restore the state’s authority to levy cess on mineral-bearing land.
Kishore said amendments to the Mines and Minerals (Development and Regulation) Act could cause Jharkhand an estimated loss of Rs 14,000 crore.
He claimed Section 9(D) of the Act could prevent the state from recovering Rs 1.36 lakh crore from coal companies.
Kishore estimated Jharkhand’s losses from GST and the VB-G RAM G scheme at Rs 6,000 crore to Rs 8,000 crore.
At a September 18-19 conference in New Delhi, he demanded GST compensation and restoration of the VB-G RAM G scheme’s 90:10 funding ratio.
- Who
- Jharkhand Finance Minister Radhakrishna Kishore made the demands before the Centre.
- What
- He sought restoration of mineral-cess authority, compensation for GST-related losses, and restoration of the VB-G RAM G scheme’s 90:10 funding ratio.
- Where
- The national conference took place in New Delhi.
- When
- The conference was held on September 18-19; Kishore addressed it on September 19.
- Why
- Kishore said changes to mining laws and central economic policies had caused or could cause substantial financial losses for Jharkhand.
Key facts
- Speaker
- Radhakrishna Kishore, Jharkhand Finance Minister
- Conference
- ‘Financing India’s journey towards Vikshit Bharat’
- Location
- New Delhi
- Estimated mineral-related loss
- Around Rs 14,000 crore
- Outstanding coal-company claim
- Rs 1.36 lakh crore
- Estimated GST and scheme-related loss
- Rs 6,000 crore to Rs 8,000 crore
- Funding demand
- Restoration of a 90:10 funding ratio for the VB-G RAM G scheme
Quotes
Radhakrishna Kishore
Jharkhand Finance Minister
“It is essential to rise above party politics and provide special support to economically backward states to make India a developed nation. The goal of a developed India by 2047 should not be limited only to a strong economy, but the creation of an equitable and empowered society should also form its foundation.”
theprint.in
“I demand restoration of the authority to levy a cess on mineral-bearing land, compensation for losses incurred due to GST, and the restoration of the 90:10 funding ratio for the VB-G RAM G scheme.”
theprint.in
Sources
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