HomeNewsTrendsCurrent AffairsGoa may lose Rs 3,500 cr due to SC order on mining leases: Minister

Goa may lose Rs 3,500 cr due to SC order on mining leases: Minister

The SC had last month quashed the second renewal of iron ore mining leases given to 88 companies in Goa in 2015.

March 04, 2018 / 15:22 IST
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Goa is staring at a revenue loss of Rs 3,500 crore annually and downscaling of nearly two lakh jobs following a Supreme Court order over non-renewal of iron ore mining leases in the state, a minister has said.

The state government wants that the Centre should help it in dealing with this impending crisis.

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The SC had last month quashed the second renewal of iron ore mining leases given to 88 companies in Goa in 2015.

The apex court said it was giving time till March 15 to mining lease holders, who have been granted a second renewal in violation of its previous directions, to manage their affairs.