FEMMI urges NITI Aayog to Proposed ‘One Nation-One Mineral-One Tax’ Policy

The Federation of Minor Minerals Industry (FEMMI) secretary general Ch. Rao and vice-president B.V. Subba Rao have requested that the National Institution for Transforming India (NITI) Aayog propose to the Union government the implementation of the ‘One Nation-One Mineral-One Tax’ policy, which will ensure uniformity in all concerns across the country.

“Reforms in tax structure are urgently required as the mining industry faces numerous issues in several states, notably Andhra Pradesh and Telangana, where hundreds of quarries have been closed despite the collection of massive taxes and royalties. We also criticize the auction policy for minor minerals because it fosters unhealthy rivalry among entrepreneurs whose investments have been stalled for a variety of reasons,” Mr. Rao stated.

The association advocated for a transparent tax system, level playing fields for all parties, leases for longer period, and other issues. The Federation of Indian Mineral Industries (FIMI), the Mining Engineers Association of India (MEAI), and other associations supported FEMMI’s recommendations, which were delivered to NITI Aayog in a detailed note.

During the inter-ministerial committee meeting organized by the planning body in New Delhi, the federation presented a thorough report to NITI Aayog member V.K. Saraswat and NITI Aayog senior adviser (Industries) Ishtiyaque Ahmed, as well as Union Ministry of Mines Secretary V.L. Kanata Rao.