Current Affairs

INR 500 Crores From Mining Royalty

The royalty from ore exported from Goa is expected to touch  500 crores, according to officials.
While pointing out that in the first half of the year itself, even though mining activity is low due to the monsoons, 375 crore has been collected, Director of Mines Arvind Lolienkar did not seen any reason why the projected figure of  500 crore could not be achieved.
Incidentally during the last financial year, the earnings from royalty was  292 crores.
The increase has been because the royalty has been collected on ad-volerom which was taxing the produce based on the international market prices while earlier the government used to collect a flat amount of  8 per tone.

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