01-Mar-2024 03:28 PM
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New Delhi, Mar 1 (Reporter) States of Jharkhand, Chhattisgarh, Odisha, MP, West Bengal and Telangana have emerged biggest beneficiaries of coal mining and resultant royalty received by these states from sale of coal.
Coal mining sector has proved to be a big booster for economic growth of the coal producing States in the Country. State Governments are entitled to receive 14 per cent of Royalty on sale price of coal.
Besides they also get additional share in terms of DMF which 30 per cent of royalty and 2 per cent of NMET from the coal produced by the coal companies and also the private sector.
During 2014-2023, total revenue from royalty, DMF & NMET of all coal producing States through coal mining sector is Rs. 152696 crores. State wise, year wise data for the last 5 years indicate that the coal mining sector is very significant contributor to the revenue of Jharkhand, Chhattisgarh, Odisha, Madhya Pradesh, West Bengal and Telangana.
In case of captive/ commercial mines, State Government are also entitled to receive the revenue share offered by the auction holder in transparent bidding process. Apart from this, State Governments also benefit from increased employment, land compensation, increased investment in allied infrastructure like railways, roads and several other economic benefits.
The compounded annual growth rate (CAGR) of the revenue from coal mining during 2014-2023 was healthy 13.80 per cent.
In the last 5 years, Chhattisgarh received Rs 16634.89 crore, Jharkhand receipts stood at over Rs 23779 crore, Odisha got Rs 16195 crore, MP received Rs 15829 crore and Telengana’s receipts were at Rs 12046 crore, an official release said here...////...