Centre urged to revise royalty on minerals

The proposal to revise royalty has been pending since 2007. It is estimated that the State Government would get additional Rs 1,032 crore revenue (non-tax). Besides, the Centre has to reimburse Rs 2,380 crore towards farm loan waiver scheme, State’s Special Representative in Delhi Dhananjay Kumar told reporters on Wednesday.
Chief Minister B S Yeddyurappa has submitted separate memoranda to the Union Finance Minister in this regard, during his recent visit to Delhi.
Kumar said that the State has suggested to the Centre that royalty be fixed on the basis of estimated extraction of minerals. “If the royalty is fixed at 10 per cent, the State would get over Rs 1,000 crore per year. Presently, the State is getting a meagre Rs 80 crore as royalty,” he added.

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