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| Narendra Singh Tomar |
Bhubaneswar, Aug 27: Union Steel and Mines Minister Narendra
Singh Tomar who is in Odisha on a two day-visit is scheduled to meet Chief
Minister Naveen Patnaik at teh Secretariat on Wednesday to seek his views on rejuvenating the
mining sector after the Union Cabinet revised all major mineral royalty last
week, sources said.
Singh Tomar who is in Odisha on a two day-visit is scheduled to meet Chief
Minister Naveen Patnaik at teh Secretariat on Wednesday to seek his views on rejuvenating the
mining sector after the Union Cabinet revised all major mineral royalty last
week, sources said.
He will also hold discussions with senior officials of the Steel
and Mines department to take stock of the present status of the mining sector
in Odisha, sources said. He is also scheduled to hold a Press conference at
Nalco Bhavan on Wednesday afternoon.
and Mines department to take stock of the present status of the mining sector
in Odisha, sources said. He is also scheduled to hold a Press conference at
Nalco Bhavan on Wednesday afternoon.
Earlier this week Tomar in a letter to Chief Minister Naveen Patnaik said, “Now that Cabinet has approved the revision of royalty rates, a major demand of the state government has been met. I am sure, with your help and cooperation we will be able to improve the environment further so that the contribution of mining sector to the GDP increases substantially.”
Meanwhile, he had already met Chief Ministers of Goa, Rajasthan,
Karnataka and industry Minister of Gujarat for the purpose.
Karnataka and industry Minister of Gujarat for the purpose.
After the Union Cabinet gave its nod to revision of mineral
royalty, the state of Odisha will be the biggest beneficiary of the revision of
royalty rates on iron ore and other minerals with its revenues from royalty
increasing by 50.27% to Rs 4,880 crore. It had collected about Rs 3,250 crore
in 2011-12, according to Government sources.
royalty, the state of Odisha will be the biggest beneficiary of the revision of
royalty rates on iron ore and other minerals with its revenues from royalty
increasing by 50.27% to Rs 4,880 crore. It had collected about Rs 3,250 crore
in 2011-12, according to Government sources.
Odisha is one of the largest iron ore producer in the country
along with other minerals.
along with other minerals.
The rates were revised for all major minerals other than
minor minerals, coal, lignite and sand for stowing, as per provisions of Mines
and Minerals (Development and Regulation) (MMDR) Act, 1957. The royalty for
iron ore has been revised to 15% from 10% earlier.
minor minerals, coal, lignite and sand for stowing, as per provisions of Mines
and Minerals (Development and Regulation) (MMDR) Act, 1957. The royalty for
iron ore has been revised to 15% from 10% earlier.
States get the revenues collected from royalty while the
Central government has the powers to revise it. The revision is done every three
years but it was pending since 2012 under the UPA II and the last revision in
the royalty rates happened in 2009.
Central government has the powers to revise it. The revision is done every three
years but it was pending since 2012 under the UPA II and the last revision in
the royalty rates happened in 2009.