Bhubaneswar: Chief minister Naveen Patnaik on Friday observed that the non-revision of royalty has cost Orissa a loss of nearly Rs 4000 crore per annum. Participating in a seminar on 'Mineral Junctio">
State loses Rs 4,000 crore due to non-revision of royalty
Saturday, July 19, 2008
State loses Rs 4,000 crore due to non-revision of royalty

Bhubaneswar: Chief minister Naveen Patnaik on Friday observed that the non-revision of royalty has cost Orissa a loss of nearly Rs 4000 crore per annum.

Participating in a seminar on 'Mineral Junction: The Future Ahead' jointly organized by by the Confederation of Indian Industry (CII) and the state government here, he said that if the state got all the money, it would be used for the socio-economic development of the state.

Taking a dig at the recommendation of the Hooda Committee, he said that the recommendation should be made taking the ground realities into account.

The new mineral policy would affect the local entrepreneurs and the state would lose heavily, he said, adding, Orissa was on the top in the list of attracting highest investments to the state.

The state has been able to attract Rs 6 lakh crore to the state and out of it projects worth of Rs 3 lakh crore has already been implemented, he said.

Speaking on the occasion, steel and mines minister Pradip Amat said that by promoting mineral based industries, Orissa will try to expand the employment opportunities.

Supporting the Orissa' s demand for revision of royalty, minister of mines, petroleum, relief and rehabilitation of Rajasthan, Laxmi Narayan Dave said that due to the apathetic attitude of the Centre on the revision of royalty for several months, Rajasthan has suffered a loss to the tune of Rs 1,227 crore during the last fiscal.

Present on the occasion, Orissa chief secretary Ajit Kumar Tripathy expressed his concern on the non-revision of royalty.

The state always support to the value addition of minerals within the state, he said.

Participating in the seminar, secretary, steel and mines Ashok Dalwai said that the state aims to produce at least 45 million tonnes of steel by 2011-12.

We have already signed MoU with 49 companies to produce about 79 million tonnes of steel which will be about 26 percent of the total projected 293 million tonnes of steel production in the country by 2019-20, he said, adding. 28 steel plants have already started partial production.

He also said that with the starting of 28 companies, the crude steel production in the state would touch 45 million tonne by 2011-12 which will be 35 million tonnes more than the present steel output in the state.

Giving a detailed picture of the present scenario of steel, he said the state, at present, produces 10 million tonnes of steel, out of which 8 million tonne capacities have come up in the last 4 years.

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