Geology and Mining revenue up by 62% in 2021–22

STAFF REPORTER

GUWAHATI: The Directorate of Geology and Mining, Assam, has made a remarkable achievement in revenue collection by collecting over Rs 1582.59 crore more revenue in the financial year ended on March 31, 2023 (2022-23) than the previous financial year. This is over 62.33 percent more than the revenue collected in 2021–22.

This was possible as the Directorate collected more revenue from crude oil and other mines and minerals.

According to sources, in the financial year 2022–23, the Directorate collected the highest-ever amount of Rs 4121.365 crore. The Directorate collected the highest royalty of Rs 4088.86 crore from the petroleum sector, Rs 25.49 crore from coal and lignite, and Rs 7.02 crore from limestone and other minerals. The Directorate of Geology and Mining is one of the oldest directorates in Assam and is under the administrative control of the Department of Mines and Minerals. In the financial year 2022–23, the Directorate collected the highest amount of revenue of Rs 389.49 crore in July 2022, followed by Rs 378.46 crore in August 2022, and Rs 375.20 crore in June 2022.

In the financial year 2021–22, the Directorate collected Rs 2538.77 crore and Rs 1489.20 crore in 2020–21. According to sources in the Directorate, it gets the highest amount of revenue from OIL (Oil India Ltd.) in the crude oil sector. Sources further said that the Directorate is optimistic about discovering some new sources of revenue in the current financial year (2023–24).

The sources in the Directorate of Mines and Minerals attribute the collection of over Rs 4121.36 crore more revenue in 2022–23 to the constant monitoring and guidance from the Chief Minister and the Mines and Minerals Minister.

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