Due to the Covid-19 pandemic, while other revenue generating sectors are facing a slowdown, the mineral sector has turned out to be saviour for State by yielding huge funds and supporting major developmental programmes.
The State has achieved a whopping nearly 668% growth in generation of mineral revenue during May 2021 compared to May 2020. This is an all-time record even during Covid when State Government need more funds for generating job opportunities and spending on virus control measures, officials said. The nonferrous mining and metallurgical industries sector is experiencing a boom. While in 2021-22 Budget mineral revenue generation was targeted at Rs 13,700 crore, by May 31 State has collected Rs 5,731.73 crore from nonferrous mining and metallurgical sector. During 2020-21, the actual collection from this sector was Rs 13,604.89 crore. Keeping in view this achievement, the Government set the target of Rs 13,700 crore, a hardly Rs 100-crore extra due to Covid situation.The Government had collected around Rs 11,000 crore from mineral sector in 2019-20 financial year as there was less demand in market even though it was not a pandemic year. However in 2021-22, it is likely to surpass all previous records, officials said, as mineral sector has been responding very positively despite pandemic. In a comparison of collection of mineral sector revenue for last three years during May, it was Rs 2,036.64 crore in May 2019.