Supreme Court’s cancellation of 88 mining leases likely to impact Goa’s shipping industry, slow down GDP
The Supreme Court recently canceled the renewal of 88 iron ore mining leases in Goa which were granted in 2015. With this, the mining industry in Goa has received another setback just when it was regaining the lost ground.
The top court held as illegal the renewal given to the companies, by holding that the renewal of licences appears to have been carried out with the motive to maximise profits but without any consideration for mineral development or for social benefits. Firstpost takes a look at the mining industry in Goa, and what could be the possible impacts of the ban, especially on related industries like shipping, the gross state domestic product and the budget which is likely to be tabled in the state Assembly this month.
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