Centre steps in as Karnataka's new mining taxes threaten steel sector

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Centre steps in as Karnataka's new mining taxes threaten steel sector - Business Standard

Quick Summary:

Minister Kumaraswamy, in response to the new taxes, criticised the Karnataka Congress government for imposing what he termed ‘steep taxation’ on the mining sector.

He warned that if other states followed Karnataka’s lead, it could lead to the collapse of the steel industry, forcing India to rely on imports, The Economic Times report reads.

A crucial meeting held in New Delhi on Thursday, chaired by Union Minister of Heavy Industries HD Kumaraswamy and Law Minister Arjun Ram Meghwal, focused on exploring legislative options to address the potential consequences of Karnataka’s new law.