Karnataka set to generate over Rs 10.8k crore from mining sector
Bengaluru: The Siddaramaiah-led Karnataka government on Friday approved two key measures that are expected to fetch the exchequer at least Rs 10,818 crore from the mining sector.
The Cabinet approved the Karnataka (Mineral Rights and Mineral Bearing Land) Tax Bill, which will enable the government to levy taxes, with retrospective effect, on mineral rights and owners of mineral-bearing lands. This move is estimated to fetch Rs 4,713 crore, as reported by the Deccan Herald.
Law and Parliamentary Affairs Minister H.K. Patil, while briefing the media, clarified that the tax would be in addition to the royalty already levied on mined minerals.
"At present, only the miner pays the royalty, but the landowner also has to pay the tax now. For one tonne of iron ore mined from land, a tax of Rs 100 will be levied on the owner of the land," Patil was quoted as saying by the publication, noting that the rate will vary depending on the type of mineral.
When asked whether the move was aimed at generating additional income for the state, Patil mentioned that they were collecting money that was due to the government.
The Cabinet's decision follows a recent Supreme Court ruling affirming that states have the legislative right to impose taxes on minerals.
The proposed tax rate will range from Rs 20 to Rs 100 per tonne for different minerals across all mine categories, the report added.
In another decision, the government has decided to give a one-time settlement (OTS) option for mining violators, particularly those who mined beyond their licensed areas. The state is expecting to collect penalties amounting to over Rs 6,105 crore under this.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Real Madrid fines Valverde and Tchouaméni half a million euros each for altercation
Barcelona (AP): Real Madrid slapped players Federico Valverde and Aurélien Tchouaméni with half-a-million-euro ($588,000) fines on Friday for their altercation during practice.
The massive fines came a day after the midfielders tussled when the team trained. Valverde said in a post on social media on Thursday that no punches were thrown. But Valverde knocked his head on a table and he suffered a small cut that required a brief hospital visit.
On social media, Valverde initially called it a “meaningless fight” with a teammate and said “everything has been blown out of proportion."
His employers, however, considered it a significant enough breach of team discipline to nail both Valverde and Tchouaméni with fines that bite even the bank account of a top soccer player. The half-a-million euro penalties reflect the reputational damage the club was enduring in a chaotic end to a disappointing season.
In a statement, the 15-time European champion said its disciplinary action was concluded after both players expressed to the club “their complete remorse for what happened and apologized to one another.”
Madrid added they also apologized to their teammates, the coaching staff and club supporters, as well as showing their willingness to accept whatever disciplinary action the club deemed “opportune.”
Tchouaméni was back training with Madrid on Friday, two days before they play at Barcelona in a clasico. Madrid has to win otherwise Barcelona will be crowned La Liga champion.
After being notified of the fine, he posted a public apology to the club and its fans on social media.
“What happened this week in training is unacceptable,” Tchouaméni wrote. "I say this while thinking about the example we are expected to set for young people, whether in football or at school.
“Above all, I am sorry for the image we projected of the club.”
Valverde was not at practice due to the head knock.
Both players are set to play in the World Cup next month, with Tchouaméni playing for France and Valverde for Uruguay.
Chaotic end to a poor season
===================
The run-in between the players, who for seasons have played side by side in Madrid's midfield, came after they argued this week in previous training sessions. But tempers boiled over on Thursday. Spanish media was rife with reports that the players previously disagreed over the club's decision to let coach Xabi Alonso go after just months on the job.
It was not the only altercation involving Madrid players during training this week. Álvaro Carreras confirmed he was in a “minor” incident with a teammate. Spanish media said he and fellow defender Antonio Rüdiger got into a scuffle.
Álvaro Arbeloa, the coach who was promoted from Madrid's reserve team when Alonso was fired in January, will face tough questions on what went wrong inside the changing room when he gives a press conference on Saturday ahead of the clasico at Camp Nou.
Madrid is facing a second consecutive campaign without a major trophy amid rumors in the Spanish media that club president Florentino Pérez is considering bringing back Jose Mourinho to straighten out his underperforming team.
