{"id":12628,"date":"2024-06-14T15:25:26","date_gmt":"2024-06-14T15:25:26","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=12628"},"modified":"2024-06-14T15:25:26","modified_gmt":"2024-06-14T15:25:26","slug":"odisha-government-eyes-9049-crore-windfall-from-mining-sector-in-q1-2","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/odisha-government-eyes-9049-crore-windfall-from-mining-sector-in-q1-2\/","title":{"rendered":"Odisha government eyes 9,049 crore windfall from mining sector in Q1"},"content":{"rendered":"

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.<\/p>\n

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 fiscal.
The collection is according to the initial estimate and may go up slightly after final audit by the department, said an official.<\/p>\n

The premium (committed during auction of mineral block) is a Percentage<\/a> on the sale of mineral which the lease pays to the state government as tax every month. It is over and above the royalty.<\/p>\n

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<\/a> in collection of revenue from the mining sector should come as a breather for the state government.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1101],"tags":[976],"class_list":["post-12628","post","type-post","status-publish","format-standard","hentry","category-odisha","tag-24-06-21"],"yoast_head":"\nOdisha government eyes 9,049 crore windfall from mining sector in Q1 - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/odisha-government-eyes-9049-crore-windfall-from-mining-sector-in-q1-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Odisha government eyes 9,049 crore windfall from mining sector in Q1\" \/>\n<meta property=\"og:description\" content=\"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 ... 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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 ... 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