india’s mining fiscal regime - h1 2014
TRANSCRIPT
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India’s Mining Fiscal Regime: H1
2014
Category : Mining
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Introduction to Report
Launch Date: March 1, 2014
Number Of Pages: 23 Geography Coverage: India
Available Format: PDF
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About the Report
The mining industry in India is governed by Ministry of Mines, Indian Bureau of Mines (IBM) and Geological Survey of India (GSI). The Mines and Minerals (Development and Regulation) Act 1957, (MMDR) as amended up to May 10, 2012 and the Mines Act 1952, together with the rules and regulations framed under them, constitute the basic laws governing the mining sector in India. The Union Cabinet approved the proposal to introduce the MMDR Bill 2011, which would eventually replace the 1957 Act once passed by parliament.
Publisher’s Indian fiscal regime report outlines governing bodies, governing laws, mining ownership and licenses, rights and obligations and tax-related information on 12 commodities: coal, iron ore, zinc, lead, copper, bauxite, gold, silver, chromium, manganese, diamond and uranium.
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Research Finding
The mining industry in India is governed by Ministry of Mines, Indian Bureau of Mines (IBM) and Geological Survey of India (GSI).
The Mines and Minerals (Development and Regulation) Act 1957, (MMDR) as amended up to May 10, 2012 and the Mines Act 1952, together with the rules and regulations framed under them, constitute the basic laws governing the mining sector in India. The Union Cabinet approved the proposal to introduce the MMDR Bill 2011, which would eventually replace the 1957 Act once passed by parliament.
The Central and the state governments are responsible for managing the mineral resources in India.
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Research Finding Continues…
The Ministry of Coal is an authorized body and oversees the administration and development policies and strategies, non-coking coal, lignite deposits and mining operations in India. It also supervises production, demand, supply, distribution and price-related matters for coal. The ministry is also in charge of the administration of the Coal Mines Provident Fund Organization (CMPFO) and Coal Mines Welfare Organization (CMWO).
The Subsoil Law is the main law in the mining industry, providing all relevant laws and regulations regarding subsoil use in the Russian Federation. Other regional laws on subsoil are also applicable to the mining industry.
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Report Covered:
Executive Summary
The Indian Mining Industry – Governing Bodies
The Indian Mining Industry – Governing Laws
The Indian Mining Industry – Mining Ownership and Licenses
The Indian Mining Industry – Rights and Obligations
The Indian Mining Industry – Key Fiscal Terms
Appendix
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