Odisha government eyes 9,049 crore windfall from mining sector in Q1

The expects huge revenue gain from themining sectorduring the 2021-22 financial year with most of the mines auctioned before the outbreak of Covid-19 having started production.

Sources in thestate steelandmines departmentsaidrevenue collectionfrom mining sector in the first quarter (April-June) is estimated at Rs 9,049 crore (as on June 28) compared to the Rs 2,735 crore collected in the corresponding period of the previous

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The collection is according to the initial estimate and may go up slightly after final audit by the department.

Mining sectors contributed Rs 13,600 crore during the 2020-21 financial year while the collection was over Rs 11,000 crore during the 2019-20 financial year. With revenue collection from several other sectors like GST, VAT, excise, stamp duty and registration fee are expected to fall in the first quarter of the fiscal because of Covid-induced lockdown and shutdown, Growth in collection of revenue from the mining sector should come as a breather for the state government.