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CCEA okays higher rates of royalty on minerals — States to benefit
Our Bureau
New Delhi
,
Sept. 17
THE Cabinet Committee on Economic Affairs on Friday approved the revised rates of royalty on minerals as also the rates of dead rent.
As a result, total royalty accruing to the 22 major mineral bearing States is slated to go up by over 11 per cent to Rs 960.30 crore from Rs 863.90 crore.
The major beneficiaries of the Rs 96.39-crore increase in royalty are the mineral-rich States such as Andhra Pradesh. Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Orissa, Rajasthan and Tamil Nadu.
A general revision in the rates of royalty on minerals, other than coal, lignite and stand for stowing was last effected on September 12, 2000, as these rates are not enhanced more than once in three years.
The royalty on minerals is payable to the State Governments by holders of mining leases in respect of minerals removed or consumed by them or by their agents, managers, employees, contractors or sub-lessees from the leased area.
As per the regulations, a holder of a mining lease has to pay dead rent for all the areas included in the lease instrument. However, the mining leaseholder is liable to pay only the royalty on mineral or the dead rent in respect of the leased-hold area, whichever if higher.
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