Mining royalty dips by 50% since ban

 

The suspension of mining has impacted the State revenue with Directorate of Mines and Geology recording an almost 50 percent dip in royalty collection from April 2012, till date.
The department has earned only Rs 335.80 crore in the last eleven months as against Rs 765.09 crore in 2011-12 during the same period.
 However, the department is optimistic about touching Rs 500 crore revenue from mining by way of stamp duty. Around Rs 161 crore, stamp duty, for renewal of mining lease is set to come from seven mines by February 28.
A rough estimate claims that department earned around Rs 320 crore from export of iron ore, which came prior to State government order of suspending mining operations in September 2012.
The balance Rs 15 crore is attributed to royalty collected from minor minerals.  Mining has been a major revenue earner for State government.
For the financial year 2010-11 it earned the government Rs 850 crores and Rs 1000 crore for the year 2011-12 in the form of royalty.
Government had estimated Rs 900 crore as mining revenue for the current fiscal. [H]