Karnataka Govt Returns Bill On Mineral Tax

25 Jan 2025 CW Team

According to sources from Raj Bhavan, the Governor had sent back the bill more than 20 days ago seeking some clarifications from the government, but has not received it back. The sources said that following the petition from the Federation of Indian Mineral Industries (FIMI) requesting the Governor not to clear the bill citing some legal issues, the Governor had sought clarifications and also asked the government to send it back along with a legal opinion.

Earlier, FIMI even appealed to Chief Minister Siddaramaiah and the Chief Secretary to withdraw the bill when the government proposed it. “Mineral tax bill is discriminatory and will, if brought into force, sound the death knell of the mining industry,” FIMI stated in the letter to the Governor, CM and to Chief Secretary. Sources from Raj Bhavan explained that the federation questioned the logic of imposing excessive levy amounting to three times the royalty on non-auctioned mines, along with the tax on mineral-bearing land.

The state government proposed and cleared the bill in the winter session of the legislature at Belagavi in December 2024. The bill was in accordance with the Supreme Court’s verdict on July 25, 2024, that states have the legislative right to impose tax on minerals.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..