The Hon’ble Finance Minister presented the Union Budget 2025 in the Lok Sabha on 1 February 2025.
This Budget outlines a well-defined strategy to boost domestic manufacturing and promote employment generation in the country. Significant reforms have been announced in the mining sector, particularly for critical minerals, along with the introduction of a State Mining Index. The Government has also emphasized a strategic focus on critical minerals to propel domestic manufacturing and strengthen the ‘Make in India’ initiative.
The Union Budget marks a pivotal step in advancing India’s clean energy transition. Key tax changes include customs duty rationalization on various products, including critical minerals, and the removal of duty on scrap waste. Additionally, the Government has announced tax cuts to benefit the middle class and plans to introduce a new Income-tax Bill next week.
We bring you the key amendments proposed in the Finance Bill 2025 concerning the Metal and Mining sector.