Revenue collection from minerals up by 70% in fiscal 2021-22

STAFF REPORTER

GUWAHATI: The Directorate of Geology & Mining registered a 70.47 per cent increase in revenue collection in fiscal 2021-22 against fiscal 2020-21.

The Directorate gets revenue mainly from crude oil, natural gas, coal, limestone, granite and other minerals. It is one of the oldest directorates of the state under the administrative control of the Department of Mines and Minerals.

The Directorate collected Rs 2538.77 crore revenue in fiscal 2021-22 against Rs 1489.20 crore in fiscal 2020-21. The Corona lockdown affected revenue collection in fiscal 2020-21. Despite the pandemic, the Directorate could register a significant increase in revenue collection in fiscal 2021-22 due to the increase in royalty from crude oil.

Sources said that the Directorate collected the lion's share of Rs 2372.67 crore royalty from crude oil, Rs 148.49 crore from natural gas, Rs 0.94 crore from coal, Rs 5.93 crore from limestone and other minerals, and Rs 10.74 crore from other receipts.

In fiscal 2020-21, the Directorate collected Rs 1329.37 crore royalty from crude oil.

Talking to The Sentinel, the Director of Geology and Mining Director, Ananda Das, said, "Following the guidance from the Chief Minister and Revenue and Disaster Management Minister Jogen Mohan, we have been successful in revenue collection in the just-concluded fiscal. We also hope to achieve the revenue target in fiscal 2022-23."

Assam is a land of natural bounty, fertile valleys, perennial rivers and rich cultural heritage. The state has reserves of hydrocarbons, coal and limestone, other economic mineral deposits like granite, china clay, glass sand, decorative atones, fuller's earth, sillimanite, iron ore and placer gold.

The state government has been striving to create an enabling and empowering eco-system to promote exploration, drilling and extraction activities in close collaboration with public and private entities. The government is making efforts to engage all the stakeholders and facilitate the investment in mineral-based industries to enhance the revenue from the mineral sector.

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