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Domnic Fernandes continues (Part III) his reminiscence of
Mapusa of the 1950s
http://www.goanet.org/index.php?name=News&file=article&sid=426
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I will try and answer the points raised by Ralph Rau in his post
to the best of my ability and knowledge. I am willing to be corrected
if my take on any of them is not correct.
1)What is the basis on which this wealth is shared between state
& lease owner.
--- The Central Government collects excise duty, export duty and
income tax.The State Government only benefits from any spin-offs
that may arise from mining activity.
2)Was any windfall tax imposed on the mine owners to claim a
share of their astronomical profits during the last boom.
--- No, since the Government would probably have benefitted
from additional tax revenue from the windfall profits.
3)Finally what is the constitutional basis on such mine owners
to continue their ownership of mineral assets when all over
the country such wealth is in the hands of the state corporations.
--- The basis is the Lease Agreements whih the mining companies had
with the Portuguese Government and private land-owners at the
time of Goa's liberation/annexation/invasion in December 1961,
the validity of which were upheld by the Supreme Court of India.
They will probably continue toenjoy these rights for the pendency
of the agreements.
--- Tony Correia-Afonso.
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