Bhubaneswar: The state government has recorded more than 200% of revenue growth from the mining and metal sector in the first six months of the current financial year.
State revenues from the mining and metal sector on Thursday are estimated at around Rs 19,118 Crore, which is far more than the RS 5,947 Crore collected during the previous fiscal equation period.
The first six months of gathering from this sector was also more than the total previous fiscal collection because mining had contributed Rs 13,600 Crore in the 2020-21 fiscal year and RS 11,000 Crore in the previous financial year.
Although state revenues from all sources have not been officially expected, the source said it could be around RS 33,000 Crore at the end of September, which means that the mining sector contributes more than 60% of the total income in the first half of the fiscal.
Substantial growth in collecting mining income mainly due to premium gathering from mineral blocks auctioned earlier last year.
We hope the total collection of sectors at the end of the fiscal can touch the RS 40,000 Crore, which will be a record in gathering income, “said a senior department of steel and mines.
Every year the mining sector contributed most of the overall country’s revenue.
Over the past few years It has been in the 25% region.
Large growth in income collection from this sector will be a breath for the state government that tries to bring a pandemic economy in its track.
While the state government has managed to auction 19 blocks with high premiums during February-March last year , production and delivery of 16 of them have begun.
He officially said iron ore production and coal also increased this fiscal compared to last year.
The production of iron ore to an estimated date of 69.13 million tons (MT) compared to 67.64 MT was produced at 7 October, last year.