Representational Image.
Bhubaneswar: Odisha received royalty of Rs 3881.796 crores (provisional) in the year 2023-24 being paid @ 14% ad-valorem on the price of coal, which is commensurate with the production of coal over the past decade.
The rates of royalty as per notification dated May 10,.2012, have been fixed @ 14% ad-valorem on the price of coal for all the States in India except the state of West Bengal, where royalty ranges from Rs 7.00 to Rs 2.50 per tonne depending on grade of coal.
This information was given by Union Minister of Coal and Mines G. Kishan Reddy in a written reply in Rajya Sabha on Monday.
The section 9(3) of the Mines and Minerals (Development and Regulation) Act provides that Central Government may, by notification in the Official Gazette, amend the Second Schedule so as to enhance or reduce the rate at which royalty shall be payable in respect of any mineral with effect from such date as may be specified in the notification.
It has been further provided that the Central Government shall not enhance the rate of royalty in respect of any mineral more than once during any period of three years.
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