Bhubaneswar: Due to crackdown and closure of mines and Odisha once
again missed the mining revenue target in the month of February. In this month
the state’s mining revenue collection was Rs.380.12 crore against the target of
Rs.470 crore, a shortfall of 19%. Also the collection drops about 16.84% against the January collection of 457
crore.
However, the February collection has recorded y-o-y growth of 7%
which was 355 crore in the same month last year.
Similarly, during the April-February period Odisha’s mining
collection Rs.4682.77 crore against the target of Rs.5034 crore, a shortfall of
7%. However, the mining revenue collection during this period has registered a y-o-y
growth of 17%, which was Rs.3978 crore during the same period in 2011-12
financial year. In the April-January period the collection was Rs.4293.38 crore
against the target of Rs.4564 crore.
The mining revenue collection upto December
2012 was only Rs.3803.62 crore, against the target of Rs.4102 crore. However,
the mining revenue for the period April-December 2011 was Rs.3237.43 crore.
Concerned with falling
mining revenue, the state government has recently cleared the proposal for
amendment of the Indian stamp act 1899, to the increase the stamp duty on
mining leases. The amendment will enable the
Government to charge 15 percent stamp duty on the royalty accrued out of
highest annual extraction of mineral permitted under the mining plan to the
lessees at the time of registration of the leased land.
Reported by Tapan Moharana
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