logo
Rajasthan govt taps rich mineral reserves to drive economic growth

Rajasthan govt taps rich mineral reserves to drive economic growth

The Rajasthan government is speeding up mining operations in the state to unlock greater economic gains from its rich mineral reserves. The state currently produces 22 major and 36 minor minerals, and is the only state to produce lead, zinc, wollastonite, selenite, calcite, and gypsum.
Under its 2024 mining policy, the Bhajan Lal Sharma-led government aims to raise the mining sector's contribution to the gross state domestic product (GSDP) from the current 3.4 per cent to 5 per cent by 2029-30 (FY30), and further to 6-8 per cent by FY47.
'We have requested letter-of-intent (LoI) holders to submit necessary documents

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

India's flagship EV policy may struggle without major players like Tesla and BYD
India's flagship EV policy may struggle without major players like Tesla and BYD

Hindustan Times

time3 hours ago

  • Hindustan Times

India's flagship EV policy may struggle without major players like Tesla and BYD

The Indian government unveiled an EV incentive program last year which offers to slash duties on imported EVs to 15 per cent if the manufacturer sets up a local plant within three years. (AFP) Notify me India is rolling out a new flagship electric vehicle policy that aims to lure global automakers into making cars locally. It knows Tesla Inc. may still not bite. The Narendra Modi-led government will soon start accepting applications under the EV incentive program that was unveiled in March last year, HD Kumaraswamy, India's heavy industries and steel minister told reporters in New Delhi on Monday. Bloomberg News reported on this earlier in the day. The policy offers to slash duty to 15% on any imported electric car priced from $35,000 if the maker invests at least 41.5 billion rupees, or about $500 million, to set up a local plant within three years. Up to 8,000 cars yearly can be imported at this reduced rate. But Tesla is unlikely to participate as it isn't keen on manufacturing locally and instead wants dealerships and showrooms to sell imported cars, Kumaraswamy said, without elaborating. Tesla has long wanted to enter India, but disagreements over import duties and local manufacturing commitments have stalled progress. BYD Co. is a no-go for the South Asian nation, showing New Delhi's lingering angst with China. India's commerce minister said in an April interview that the country needs to be 'cautious" about who it allows to invest. VinFast Auto Ltd. is already building a factory in India, even before the new policy kicked in. Non-Starter 'The EV policy could be a non starter," said Jay Kale, sector analyst at local brokerage Elara Securities India Pvt., explaining that there was little benefit in terms of 'pure-play" EV makers without Tesla, BYD and VinFast in the fray. Also Read : Nissan India plans four new models including C-SUV, Triber-based MPV and mass-market EV Some global legacy automakers could benefit by setting up EV-only plants in India and importing electric cars initially under this policy, according to Kale. 'However, how these models pan out in India have to be seen as most of these carmakers haven't been successful in their home markets in EVs," he said. While the government is keen to boost manufacturing in the world's third-largest car market where demand for EVs is still rising, it faces stiff resistance from domestic heavyweights including Tata Motors Ltd. and Mahindra & Mahindra Ltd., which have long been protected by a wall of high tariffs. Stringent Conditions 'The policy will likely draw limited interest from foreign automakers as the investment and revenue requirements are too stringent," said Komal Kareer analyst at BloombergNEF in New Delhi. It mandates a minimum revenue of 50 billion rupees ($586 million) in the fourth year and 75 billion rupees a year later for any applicant approved under this policy. Those falling short will face a penalty of up to 3% on the revenue gap. 'Most automakers either do not have an eligible model that they can import for the customs' duty exemption or they will not be able to meet the revenue requirements," Kareer said. Applications may open as early as this month and extend till March 15 next year, according to people familiar with the discussions who did not want to be named. Check out Upcoming EV Cars in India. First Published Date: 05 Jun 2025, 08:59 AM IST

'UP should not get less than 20 per cent in central taxes,' UP Finance Minister on meeting with members of 16th Finance Commission
'UP should not get less than 20 per cent in central taxes,' UP Finance Minister on meeting with members of 16th Finance Commission

India Gazette

time4 hours ago

  • India Gazette

'UP should not get less than 20 per cent in central taxes,' UP Finance Minister on meeting with members of 16th Finance Commission

Lucknow (Uttar Pradesh) [India], June 5 (ANI): Uttar Pradesh Chief Minister Yogi Adityanath on Wednesday held a meeting with members of the 16th Finance Commission in Lucknow. While speaking with ANI, the state's Finance Minister, Suresh Khanna, said that CM Yogi laid out several demands in front of the Finance Commission. This also included a demand to increase the state's share in central taxes. Khanna said, '...Some demands were made by the Chief Minister for the state today. Instead of the 41 per cent share we received so far, we should get 50 per cent. At the same time, Uttar Pradesh should not get less than 20 per cent in central taxes. This is our demand.' Also, the state's Deputy CM, Keshav Prasad Maurya, informed that Uttar Pradesh's last 8 years' achievements were also highlighted at the meeting. 'At the 16th Finance Commission meeting, the Uttar Pradesh government presented the achievements of 8 years. Based on the successes, it seemed clear that the Finance Commission was satisfied with our progress, and Uttar Pradesh will get a good recommendation and will take a long leap forward successfully...,' the deputy CM remarked. Meanwhile, Deputy CM Brajesh Pathak said that demands concerning the state were put forth in the meeting. 'Today, the Uttar Pradesh government has given its full presentation before the 16th Finance Commission. We have put forward our problems and demands department-wise for the development of Uttar Pradesh,' Pathak said, adding, 'I am very happy that the 16th Finance Commission, under the leadership of Arvind Panagariya, will extend its blessings to Uttar Pradesh...' Earlier, Uttar Pradesh CM Yogi Adityanath addressed a state-level workshop in Lucknow, commemorating 11 years of the Modi government. He highlighted India's significant global standing under Prime Minister Modi's leadership and emphasised the importance of planning programs at various levels to build on the achievements of the past 11 years. 'It is our good fortune that under the leadership of PM Modi, India has attained a significant global standing,' CM Yogi remarked. Speaking at a state-level workshop organised in Lucknow, the chief minister added that several programs will also be conducted based on the achievements of the Modi-led government throughout the 11 years. 'As we enter the era of 'Viksit Bharat,' we mark 11 years of service, good governance, and welfare for the poor. Based on the achievements of these 11 years, we will plan programs at the state, district, board, and power centre levels,' CM Yogi added. (ANI)

India seeks measures to tackle trade distortions
India seeks measures to tackle trade distortions

Economic Times

time9 hours ago

  • Economic Times

India seeks measures to tackle trade distortions

Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India has called for action to address trade distortions caused by non-market economies, non-tariff barriers and restoration of a strong dispute settlement mechanism at the World Trade Organization (WTO), commerce and industry minister Piyush Goyal said on minister, however, insisted that one should not jump to the conclusion that an existential crisis has been created at the multilateral trade a mini-ministerial meeting called by Australia, Goyal also pitched for strengthening the current consensus-based approach at the WTO, and the special and differential treatment given to less developed countries and developing countries. 'All in all, the shared concerns of all the ministers were placed before the gathering today,' Goyal said.'We have all resolved to collectively work to strengthen the working of the WTO, to ensure the core principles are respected and work towards global good and global growth in trade,' he said, adding that issues that have already been finalised and mandated at previous ministerial meetings should be focused meeting was held on the margins of the OECD Ministerial Council meeting. About 25 ministers of WTO members including Australia, the EU, Canada, Singapore and France, and WTO director general Ngozi Okonjo-Iweala participated in the meeting. Resolving agri issues including finding a permanent solution on public stockholding for food grains and finding solutions to address the concerns of overfishing and indiscriminate fishing, which are leading to depletion of fish stocks, were the other tracks discussed.'There are concerns about several JSIs (joint statement initiatives) (or) plurilaterals, which some countries believe should be brought within the multilateral framework,' he said. On the China-led proposal for an investment facilitation for development pact, the minister said that issues that have been mandated at the WTO should get priority and be the first to be going beyond trade like this proposal should not be brought into, as it would create further differences between member countries, he said. On whether any member raised the multi-party interim appeal arbitration arrangement (MPIA), he said: 'There does not seem to be very much consensus or any traction to that idea... I have not heard of any cases resolved through MPIA'.(The correspondent is in Paris at the invitation of the commerce and industry ministry.)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store