PANJIM: In a relief to Goa’s mining industry, the Government of India has withdrawn export duty on iron ore below 58% Fe content and steel products.
This was stated by the Ministry of Finance in a notification on Saturday.
In May this year, the Centre had imposed export duty of 50% on iron ore lumps and fines below 58% content, iron ore pellets and the specified steel products including pig iron.
The Centre also withdrew export duty of 45% on iron ore pellets and export duty on nine steel products with HS code from 15% to nil.
Chief Minister Pramod Sawant said the withdrawal of export duty will give a boost to the mining sector and Goa’s economy.
Sawant said on May 23 this year he along with Industries Minister Mauvin Godinho had met Union Finance Minister Nirmala Sitharaman and has requested her to roll back the hike in export duty on all grades of iron ore.
He said that he had also written to Union Home Minister and the Prime Minister requesting them to withdraw export duty from 50 per cent to nil on iron ore below 58 per cent Fe as was done in 2016.
Thanking Union Home Minister Amit Shah for his support in withdrawal of export duty on iron ore with less than 58 per cent Fe, Sawant said that this will fetch higher revenues to the State government in auctioning of mining leases.
This will also propel export of low grade iron ore from Goa giving relief to various segments in iron ore business and allied activities, he said.
