‘Impact of mining closure not as bad as in 2012’

14 February, 2018 7:03 PM

57 0

Goa Chief Minister Manohar Parrikar reiterated on Wednesday that the State’s economy will not be impacted much from the February 7 Supreme Court order to cancel mining leases. The views of all stakeholders are being heard before deciding on the future course of action.

Addressing a press conference after meeting a cross-section of legislators and listening to their views on the emerging mining situation and it’s impact on the cancellation of 88 iron ore extraction leases, Mr. Parrikar said a final decision over resumption of mining and mode of leasing will be taken in 15 to 20 days.

“Without going into the merits of the judgement, one has to accept it because Goa is facing economic problems. Now all stakeholders, including the judiciary will have to take into consideration the economic trajectory. It is not possible for government to suddenly disrupt it,” Mr. Parrikar said.

However, he said the economic impact would not be as bad as in 2012, when iron ore exports were at their peak. “Direct revenue last year (from mining sector) will not exceed ₹300 crore, indirect (revenue) may account for another ₹50 to ₹100 crore. So, ₹300 crore in a total net budgetary size of ₹10,000 crore makes for 3% to 4 %,” he said.

Source: thehindu.com

To category page