Revenues from petroleum, which was almost non existent in 2008-09 androseto nearly Rs 6,000 crore in 2013-14, has started moving up again registering 22% growth to reach Rs 4,889 crore in 2022-23.The performance of the sector dependent on international crude oil prices and volume of production. In fact, the royalty from crude oil fell to Rs 1904.79 crore in 2020-21 when the world economy was battered by theCovid.

In fact, after reaching the peak of Rs 5953.11 crore in 2013-14, the revenues hit the downward spiral with the royalty revenues dropping to Rs 4849.67 crore in 2014-15, Rs 2341.43 crore in 2015-16 and Rs 2331.73 crore in 2016-17. Although it showed signs of hitting the Growth path in 2018-19 with the collection rising to Rs 3883.22 crore, the Covid pandemic blew away the gains. But since then, the royalty mop-up has been on the upswing, recovering to Rs 3995.40 crore in 2021-22 and Rs 4889.17 crore in 2022-23.