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What significant amendment was approved by the Union Cabinet in October 2023?
  • a)
    Amendment to the Companies Act
  • b)
    Amendment to the MMDR Act
  • c)
    Amendment to the Income Tax Act
  • d)
    Amendment to the Constitution
Correct answer is option 'B'. Can you explain this answer?
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What significant amendment was approved by the Union Cabinet in Octobe...
In October 2023, the Union Cabinet approved an amendment to the Second Schedule of the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR Act). This amendment is noteworthy as it specifies royalty rates for three critical and strategic minerals: Lithium, Niobium, and Rare Earth Elements (REEs). It is aimed at regulating the mining and mineral development sector.
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What significant amendment was approved by the Union Cabinet in October 2023?a)Amendment to the Companies Actb)Amendment to the MMDR Actc)Amendment to the Income Tax Actd)Amendment to the ConstitutionCorrect answer is option 'B'. Can you explain this answer?
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