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Govt looks at revision of rates of royalty for minerals

The govt is set to examine issues pertaining to the revision of rates of royalty for minerals and is going to set up an 11-member committee in this regard
New Delhi: The government is set to examine issues pertaining to the revision of rates of royalty for minerals and is going to set up an 11-member committee in this regard. The members of the committee will include mines secretaries from states like Telangana, Chhattisgarh, Jharkhand, Karnataka, Madhya Pradesh and Odisha. An official order from the Ministry of Mines said that it has decided to set up an official committee “for examining the issues raised by the stakeholders with regard to revision of rates of royalty and dead rent for minerals (other than coal, lignite, sand for stowing and minor minerals).”

Royalty for minerals: Panel to submit report within a month

The 11-member panel, under the Chairmanship of Mines Additional Secretary, will submit a report to the Ministry of Mines within a month after consulting the issues raised by stakeholders. “The committee will submit its report within a period of one month from the date of holding its first meeting,” it said.

The backdrop

The Ministry of Mines had set up a study group to revise the rates of royalty and dead rent for minerals in February 2018. The group had submitted its report to the Centre in July 2019.  The Ministry of Mines received comments/representations from stakeholders with regard to the revision of rates of royalty.