Mining revenue was on a continuous decline in FY 13
The Odisha government has missed its mining revenue target for the month ended May’13 by 13.5%. The month’s target was set at Rs 430.1 crore. Whereas, the actual target achieved was only Rs 372.0 crore, according to the provisional figures data released by the steel and mines department.
Similarly, the target set for April-May 2013 was to reach Rs 819.9 crore; whereas, they achieved only Rs 764.4 crore. The collection for the same period last year was Rs 826.7 crore; which was more by 7.5% from the present collection amount achieved.
The Odisha government had also failed to achieve its target for FY 13 by 6.5% which was higher by 16.71% than the mining revenue of FY 12. Mining revenue target for FY 13 was to achieve Rs 5,700 crore, while they achieved only Rs 5,352.9 crore. However, the collection for FY 12 was Rs 4,586.6 crore.
The mining department has consistently witnessed a decline in their mining revenue collection throughout 2012-13, for both its monthly and quarterly targets.
In April 2013, Odisha Chief Minister, Mr. Naveen Patnaik had demanded for the introduction of Mineral Resource Rent Tax (MRRT) on windfall gains by miners, in order to boost up the mining revenue collection.
However, the Odisha government presently hopes to boost up its mining revenue collection by additional Rs 1,000 crore with the implementation of the new Indian Stamp Act 2013 (Odisha Amendments). The act will be implemented as soon as the order is passed from the Odisha High Court regarding its implementation.