BHUBANESWAR | Oct 07, 2015: Collection of mining revenue has picked up in Odisha during the first six months of the current fiscal year as the state government allowed more mines to operate.
According to the new Mines and Minerals (Development and Regulation) Amendment Act, 2015, implemented by the NDA government, the state government has allowed lease extension of around 35 mines in last four months.
By the end of September this financial year, Odisha generated mining royalty of Rs 2,417 crore, a growth of around 17.5% over Rs 2,050 mopped up during the corresponding period last year. In September alone, the state collected Rs 457-crore mining revenue. In the non-tax sector, Odisha generates lion's share of revenue from mining royalty. The state government targets to generate Rs 6,500 crore from mining royalty in 2015-16.
"Though the collection of mining royalty was not encouraging in the beginning of this fiscal, it gathered momentum in the last three months. With the present flow of revenue collection, we are very optimistic to achieve the target," said a mines department officer.
During the last two years, the state government failed to achieve the target of generating revenue due to closure of several mines in the wake of the mega mining scam in the state.
In 2013-14, the state had mopped up Rs 5,510-crore mining royalty against the target of Rs 6,600 crore while the revenue was pegged at Rs 5,186 crore against the target of Rs 6,346 crore in the succeeding year.
With a jump in collection of mining revenue, the overall non-tax revenue rose to Rs 2,334.21 crore, marking a rise of 27.72% by August-end compared to the corresponding period last year.
The revenue would further go up as the state government has enlisted 30 more mines for extension of the lease deed. "These mines would be placed at any time before the inter-departmental committee headed by development commissioner U N Behera. Apart from mining royalty, government also earns a huge amount from stamp duty and registration fees due to extension of lease deed of closed mines," the officer said. The government has earned more than Rs 1,000 crore from stamp duty and registration fees.
By the end of September this financial year, Odisha generated mining royalty of Rs 2,417 crore, a growth of around 17.5% compared to the corresponding period last year
(Source: http://timesofindia.indiatimes.com/)