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Jharkhand to Study Odisha's Mining Revenue Model

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By Rediff Money Desk, Ranchi   Dec 07, 2024 22:09

Jharkhand Finance Minister Radhakrishna Kishore announced plans to send a team to Odisha to study strategies for increasing revenue from the mining sector. The state aims to boost its income from mineral resources.
Jharkhand to Study Odisha's Mining Revenue Model
Photograph: Polina Devitt/Reuters
Ranchi, Dec 7 (PTI) Jharkhand's Finance Minister Radhakrishna Kishore on Saturday said he would soon send a team to Odisha to study strategies to increase revenue from the mining sector.

He said Jharkhand, which has 40 per cent of the country's mineral reserve, generate merely Rs 11,000-12,000 crore annually from the mining sector, while the neighbouring Odisha generates around Rs 40,000 crore.

"We need to explore ways to increase the state's revenue. If we make a little effort in the mining sector, we can increase the revenue," Kishore told PTI.

"I will ask senior officers of my department to send a team of mining officials to Odisha to study how they are generating revenue from the mining sector and what steps they have taken," he said.

Kishore, a Congress leader, took charge of the office on Friday after he was allotted the Finance, Commercial Tax, Planning and Development Department, and the Parliamentary Affairs Department.

He said the objective of a separate Jharkhand was to ensure the economic and social development of people living in rural areas but it could not be achieved.

"After Hemant Soren came to power, he made efforts in this regard and launched several welfare schemes, including Maiyan Samman Yojana, to make rural people self-reliant," the minister said.

Kishore said there were several households in rural areas who did not have even grain to eat.

"They were provided food security and women of the families were linked to the Maiyan Samman Yojana, under which Rs 1,000 was given. Now, they would be provided Rs 2,500 per month so that they do not have to borrow money from anyone even for treatment of small diseases," he said.

When asked about the funds to meet the expenses of welfare schemes, the minister said it would be managed from the state budget.

Jharkhand witnessed two elections this year and that has affected the expenditure of the budget due to the imposition of the model code of conduct, he said.

"So, we have decided that the departments, which spent up to 20 per cent of their allocations, would be asked to return funds in a certain percentage as they would be able to spend the remaining 80 per cent in the next three months. Similarly, the departments that spent up to 40 per cent would be asked to return at least 5 per cent of the fund. These funds would be used to support the schemes," he said.
Source: PTI
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