Iron Ore Current Affairs - 2020

Utkala Dibasa, Odisha Statehood Day celebrated on April 1

Every year, the state of Odisha celebrates Utkal Divas on April 1. The tradition of the celebration is being followed for 84 years now. Being the 9th largest state, the state is rich in mineral resources. It is a major supplier of raw materials such as coal, iron ore to several industries spread all over the country.

Highlights

The State of Odisha was established on April 1, 1936. It was established as a province of British India on April 1, 1936. It was named Orissa. The English name was changed to Odisha on November 4, 2011.

History

In 3rd Century BC, the state was ruled by the Great Emperor Ashoka. Later it was ruled by several other monarchs such as the Harshas. During the 8th century the state was known as Kosala and Utkala kingdoms. Even today the statehood day is celebrated as “Utkal Divas”. Later in 16th century, Odisha was rued by Sultanate of Bengal. In mid-18th century Odisha was under the rule of Marathas.

Later after the Carnatic wars, it came under the rule of Madras Presidency of British.

Vivad Se Vishwas Scheme: Rs 888.09 crores saved by NMDC under the scheme

On April 1, 2020, the National Mineral Development Corporation operating under the Government of India announced that it has saved Rs 888.09 crores by adopting Vivad Se Vishwas Scheme.

Highlights

The Vivad Se Vishwas scheme was announced by the Finance Minister Nirmala Sitaraman during the Union Budget 2020-21. The scheme was introduced to generate timely revenue for the GoI, reducing pending tax litigations and help tax payers end their tax disputes. Using this scheme, NMDC has settled a dispute of Rs 1868 crores for Rs 980 crore. Also, SAIL has settled a dispute of Rs 266 crores for 186 crores.

NMDC

The National Mineral Development Corporation, a state controlled mineral producer is involved in exploration of graphite, iron ore, limestone, dolomite, rock phosphate, copper, gypsum, tungsten, etc. It is the largest iron ore producer in India. It produces more than 35 million tonnes of iron ore. The Diamond mining project operating in Panna, Madhya Pradesh is also being by NMDC.