India rolls out Mines and Minerals (Development) Act, 2026
Business
India just rolled out the Mines and Minerals (Development) Act, 2026, aiming to standardize mining taxation across all states.
The law clears up confusion from a 2024 Supreme Court decision that let states pile on extra charges, which had left mining companies guessing about their costs.
Miners faced 14 levies, 20% costs
Before this change, mining firms juggled about 14 types of taxes, charges, fees, and other levies, sometimes totaling 20%.
Now, with "greater clarity and uniformity" (as Steel Authority of India puts it), companies can plan better.
Public sector undertakings were especially relieved since they were staring at an extra ₹1.5 lakh crore bill before the reform stepped in to smooth things out.