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Odisha has received royalty of Rs. 3881.796 cr (provisional) in the year 2023-24

in Business August 5, 2024 Comments Off on Odisha has received royalty of Rs. 3881.796 cr (provisional) in the year 2023-24 437 Views

Newdelhi:5/8/24:The rates of royalty as per notification dated 10.05.2012 have been fixed @ 14% ad-valorem on the price of coal for all the States in India except the State of West Bengal, where royalty ranges from Rs.7.00 to Rs.2.50 per tonne depending on grade of coal.

The State of Odisha has received royalty of Rs. 3881.796 cr (provisional) in the year 2023-24 being paid @ 14% ad-valorem on the price of coal, which is commensurate with the production of coal over the past decade.

Section 9(3) of the Mines and Minerals (Development and Regulation) Act provides that Central Government may, by notification in the Official Gazette, amend the Second Schedule to enhance or reduce the rate at which royalty shall be payable in respect of any mineral with effect from such date as may be specified in the notification. It has been further provided that the Central Government shall not enhance the rate of royalty in respect of any mineral more than once during any period of three years.

This information was given by Union Minister of Coal and Mines Shri G. Kishan Reddy in a written reply in Rajya Sabha today.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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