State’s Mining Income Stagnates at Rs 12,000 Cr Despite Rich Mineral Reserves
Key Points:
- Jharkhand team to visit Odisha, where mining revenue reached Rs 50,000 crore
- State holds 40% of India’s minerals but struggles with revenue generation
- Government plans reforms while addressing Rs 1.36 lakh crore central dues
RANCHI – Jharkhand’s finance minister announced plans to study successful mining models of neighboring states to enhance revenue generation.
The state’s rich mineral deposits remain underutilized for revenue generation.
Meanwhile, Odisha has shown remarkable growth in mining revenues.
Moreover, their income rose from Rs 4,900 crore to Rs 50,000 crore.
“Strategic reforms are essential for our mining sector,” stated Finance Minister Radhakrishna Kishore.
Welfare Schemes and Rural Development
Furthermore, the Maiya Samman Yojana requires substantial funding commitment.
The scheme will need Rs 17,700 crore annually.
In addition, Jharkhand’s total budget stands at Rs 1.28 lakh crore.
The state faces challenges in rural healthcare infrastructure development.
Financial Challenges and Solutions
Besides, Jharkhand seeks resolution for pending central government dues.
The outstanding amount has reached Rs 1.36 lakh crore.
On the other hand, legal action remains a potential last resort.
Jharkhand’s mining sector contributes to 30% of India’s coal production.
Additionally, the state possesses significant reserves of iron ore and copper.
