India’s Mining Fiscal Regime 2021

India is endowed with vast mineral deposits, including coal, iron ore, bauxite, manganese, copper, lead, zinc and limestone. The country’s mining industry is governed by the Ministry of Mines, Ministry of Environment, Forests and Climate Change (MoEFCC), the Indian Bureau of Mines (IBM) and the Geological Survey of India (GSI). On 11 February 2021, the Mineral Laws (Amendment) Act, 2020, was enacted, amending the Coal Mines (Special Provisions) Act, 2015 (CMSP Act) and the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR Act). This was mainly done to attract more FDI, promote ease of doing business, reduce dependency on coal imports, and efficient process of mine allocation/auction.

Scope

The report outlines the country's marco economic indicators, governing bodies, governing laws, rights, obligations, various mineral licenses and fees and major taxes that are applicable within the country’s mining industry.

Reasons to buy

To find out about India's governing bodies, major laws in the industry

Enhance your decision-making capability in a more rapid and time sensitive manner

Identify various mineral licenses and fees

To gain an overview about the amendments made in the mining law’s in the country

To understand about the various taxes and royalties that are applicable in the country’s mining industry

Table of Contents

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1 Executive Summary

2 Country Overview

2.1 Macroeconomic Performance

2.2 Ease of Doing Business

2.3 Corruption Index

3 Governing Bodies

3.1 Ministry of Mines

3.1.1 Geological Survey of India

3.1.2 Indian Bureau of Mines (IBM)

3.2 Ministry of Coal

3.2.1 Coal Controller’s Organization

3.2.2 Coal Mines Provident Fund Organization (CMPFO)

3.2.3 Central Mine Planning and Design Institute Ltd (CMPDI)

3.3 Ministry of Steel

3.4 Ministry of Environment, Forest and Climate Change (MoEFCC)

3.4.1 Regional Offices

3.4.2 Subordinate Offices

3.4.3 Autonomous Bodies

3.4.4 Authorities/Tribunal

3.4.5 Boards

3.5 Department of Atomic Energy (DAE)

3.5.1 Public Sector Units

3.5.2 Atomic Minerals Directorate for Exploration and Research

4 Mining Laws and Regulations

4.1 Mines and Minerals (Development and Regulation) Act (MMNDR), 1957, Amendment (2020)

4.2 Mineral Conservation and Development Rule, (Amendment) 2018

4.3 Other Mining Laws

4.4 The Coal Mines (Special Provisions) Act, 2015

4.5 Coal Block Allocation Rules, 2020

4.6 National Mineral Policy, 2019

4.7 The Mineral Laws (Amendment) Bill, 2020

5 Mining Concessions, Rights and Obligations

5.1 Reconnaissance Permit (RP)

5.2 Prospecting Mines

5.3 Mining Lease (ML)

5.4 Rights

5.5 Obligations

6 Taxes and Royalties

6.1 Royalty Taxes

6.1.1 Coal – West Bengal

6.1.2 Coal (excluding the state of West Bengal)

6.2 Mining Concession Fees

6.3 Dead Rent Rates

6.4 Goods and Service Tax

6.4.1 List of goods at

1.5% rate

6.4.2 List of goods at

2.5% rate

6.4.3 List of goods at

9.0% rate

6.5 Exports tax for iron ore

7 Appendix

7.1 Abbreviations

7.2 Methodology

7.3 Coverage

7.4 Secondary Research

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List of Tables

Table 1: India’s Mining Fiscal Regime – Royalty Taxes, 2021

Table 2: India’s Mining Fiscal Regime – Coal and Lignite Royalty Rates, West Bengal (₹/t), 2021

Table 3: India’s Mining Fiscal Regime – Coal and Lignite Royalty Rates (Excluding West Bengal) (₹/t), 2021

Table 4: India’s Mining Fiscal Regime – Concession Fees, 2021

Table 5: India’s Mining Fiscal Regime – Annual Dead Rent Rates Per Hectare (₹/Ha), 2021

Table 6: India’s Mining Fiscal Regime – Iron Ore Export Tax, 2021

List of Figures

Figure 1: India’s Mining Fiscal Regime – Country Overview, 2021

Figure 2: India’s Mining Fiscal Regime – Nominal GDP (US$ Billion) and Real GDP Growth Rate (%), 2001-2019

Figure 3: India’s Mining Fiscal Regime – Mineral Exports and FDI in Mining, FY2016-17—FY2020-21

Figure 4: India’s Mining Fiscal Regime – Ease of Doing Business in India, Global Ranking, May 2019-May 2020

Figure 5: India’s Mining Fiscal Regime – Corruption Perception Index, 2016-2020

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