Pandemic takes a toll on non-coal mining leases; six in 2020-21 against 43 in 2019-20

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During the current fiscal, 2020-21, very few non-coal mining leases were allotted. Compared with 43 blocks successfully auctioned in 2019-20, only six leases could be auctioned out so far in the current fiscal, data from the ministry of mines showed. Since the time mining allocation was made mandatory through the auction route in 2015, a […]

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Diamond exporters in India demand equalisation levy relief

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Jewellery exporters in India have sought equalisation levy exemption from the finance ministry as new changes to the Income-Tax Act have impacted the procurement of rough diamonds through online auctions. The procurement of rough diamonds from global miners and traders through the e-auction process attracts additional 2 per cent equalisation levy. This has led to global miners amending the contract terms. […]

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India’s diamond exports may fall 20% as China battles Coronavirus: GJEPC

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India’s diamond exports may decline by 20 per cent this financial year as global demand weakens because of travel and trade restrictions to prevent the spread of Coronavirus, says Business Standard. Data compiled by the Gems and Jewellery Export Promotion Council (GJEPC) showed cut and polished diamonds worth $16.32 billion were exported between April 2019 and […]

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