Massive increase in revenue from minerals in Assam

STAFF REPORTER

GUWAHATI: The State Government has collected a handsome amount of revenue from crude oil and other mine and mineral products in the first six months of fiscal 2022-23. The amount collected has surpassed the revenue collected in the first six months of fiscal 2021-22 by Rs 964.08 crore.

The Directorate of Geology and Mining collected this amount of revenue under the guidance of the State Government and deposited it in the state exchequer.

According to sources in the Directorate of Geology and Mining, the amount of revenue collected during the first six months from April to September in fiscal 2022-23 is Rs 2158.15 crore against Rs 1,194.07 crore collected during the corresponding period in fiscal 2021-22. The month-wise breakup of the collection in the first six months of this fiscal is – Rs 337.09 crore in April, Rs 328.99 crore in May, Rs 375.20 crore in June, Rs 389.49 crore in July, Rs 378.47 crore in August and Rs 348.93 crore in September. The revenue collection fell slightly in September this year due to a fall in crude oil prices in the international market.

Sources in the Directorate claim that if the revenue collection keeps up the current pace, the total revenue from crude oil and other minerals will surpass the Rs 3,000-crore mark by the end of this fiscal.

The Directorate collects revenue mainly from crude oil, natural gas, coal, limestone and other minerals. Crude oil yields the highest amount of revenue in the mineral sector. And Oil India Limited (OIL) pays the highest amount of revenue in this sector.

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