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Odisha's mining revenue grew 25.34 per cent in the April-October period of this fiscal to Rs 2,944 crore compared to Rs 2348 crore in the year-ago period.
The spurt in mining revenue came on the back of reopening of several key iron and manganese ore mines. The state government has passed orders to extend the lease validity of 54 mines under the amended Mines and Minerals (Development & Regulation) Act, 2015. Half of the leases have re-commenced operations, boosting revenue collection.
Revenue collection from mining has been targeted at Rs 6626.17 crore this fiscal.
The state's total non-tax revenue where mining is the major contributor, touched Rs 3902.58 crore, achieving 43.30 per cent of the Budget estimates. Similarly, the total own tax revenue totaled to Rs 11970.74 crore in this period, marking an achievement of 56.25 per cent of the Budgeted target.
In the Budget estimates for 2015-16, the state has projected a collection of Rs 21280.37 crore in own tax revenue and non-tax revenue worth Rs 9013.56 crore.(Source:http://www.business-standard.com)
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- [Editor:Sophie]
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