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Mine Revenue Jumps Up

Bhubaneswar: Mineral Revenue continues to outsmart all other revenue collections in the State and it is expected that the State Government will generate more revenue from this sector during this Fiscal as collection up to September 2022 is much better as compared to last year’s corresponding period.

While up to September, 2021 State Government was able to collect Rs.18, 875 Crore from Non Ferrous Mining and Metallurgical Sector, it has been successful in collecting Rs.19,458.93 Crore as on 30 September, 2022.

Latest Report on Revenue Collection reveals that fact that in Mineral Revenue Collection there is a comparative growth of 3.9 Percent as compared to the corresponding period of Last Fiscal, however during last six months, Budget Estimate of 44.79 Percent is achieved. While for 2022-23 Budget Estimate for collection of Revenue from Mineral Sector was set at Rs.43,444 Crore, collection is much better during last six months.

While Revenue Collection from Mineral Sector in 2021-22 was Rs.48, 642 Crore and it was a record of sort, financial experts opine that that this year also it will surpass earlier collection amount as the trend is positive.

As on 30 September 2020, revenue collection from Mineral Sector was only Rs.5870.74 Crore. However during 2021 and 2022 growth in this sector has shown a huge jump.

In fact Mineral Revenue collection has boosted the Non Tax Revenue Collection of Odisha. During 2021-22, Non Tax Revenue Collection was Rs.54, 256.81 Crore and by 30 September, 2021-22 collection was Rs.20,219 Crore.

However by 30 September, 2022, Non Tax Revenue Collection has touched Rs.21,712 Crore, nearly Rs.1500 Crore extra. And financial experts feel that there will be better growth in Non Tax Revenue collection during this Fiscal, given the trend of collections.

Non Tax Revenue Collection has shown 7.39 Percent growth as compared to corresponding period of last Fiscal.

And Budget Estimate of Non Tax Revenue Collection has achieved 45.05 Percent during last six months, which is a positive trend, financial experts opine.

Thanks to the overdrive of the officials engaged in revenue collection and systematic improvement in the framework of Revenue Collection Machineries there is marked improvement in Revenue collection.