Bhubaneswar: Despite rise in production, Odisha’s mining revenue has registered a minor growth of only 2.8% to INR 5,335 crore in the recently concluded FY16 against INR 5,186 crore in FY15. However, the revenue collection has fall short of the annual target of INR 6,626 crore.
In FY14, Odisha’s annual mining revenue collection was INR 5,510 crore. But in the following year i.e. in FY15 mining revenue collection was dropped to INR 5,186 crore mainly due to drop of production after closure of several iron ore mines on the basis of a Supreme Court order in May’14.
But mineral production has witnessed a rise in the last financial year after opening of several mines and increased production from some of the leading mines. But, despite the rise in production state’s mining revenue has risen only 2.8% mainly due to fall in prices of Iron ore. Revenue from iron ore mining has more than half of the total mineral revenue of the state.
As per the information provided by the state government, Odisha’s Iron production and despatch has touched to 80.86 MnT and 81.68 MnT respectively. In FY15 total iron ore production of the state touched a 10 year low to 47.35 MnT due to closure of leading iron ore mines. In FY14 total iron ore production of the state was 78 MnT.
On the other hand Odisha has produced 137.9 MnT of coal, 10.8 MnT of bauxite and 3.1 MnT of chromite in FY16.
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