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CCEA approves increase in minerals royalty rates

Posted on Aug 20 2014 | IANS

New Delhi, Aug 20 : The Cabinet Committee on Economic Affairs Wednesday approved an increase in royalty rates of minerals, Telecommunications and IT Minister Ravi Shankar Prasad told reporters after the meeting.

The revision of royalty rates of 22 major minerals is expected to benefit states to the tune of Rs.12,000 crore.

States likely to benefit most include mineral-rich Odisha, Chhattisgarh, Goa, Karnataka and Jharkhand.

In 2011-12, states collected about Rs.9,400 crore as revenue from major mineral mining and royalty rates.

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