The state of Jharkhand has generated ₹907 crore in revenue from mineral cess between October 2024 and February 10, 2025. This income is crucial for funding various development projects within the state.
Ambitious Revenue Goals
The Mines Department has set an ambitious target to collect ₹3,500 crore in cess revenue for the current fiscal year. Furthermore, the government is aiming for an even larger revenue of over ₹15,000 crore from mineral-rich lands in the 2025-26 fiscal year. These figures show the state’s reliance on its mineral resources for economic growth.
Planned Cess Rate Increase
To achieve these significant revenue goals, the government is planning to increase the cess rate on minerals by 12.5%. This proposed increase will be introduced as an amendment to the current law during the budget session. The government believes this is a necessary step to maximize income from its abundant natural resources. Learn more about Jharkhand’s natural resources and their economic impact.
Impact on State Development
This revenue is very important for funding development projects throughout the state. A source within the Finance Department stated, “The government is dedicated to using these funds to improve the state and the lives of its residents.” Higher cess collection could greatly increase the state’s ability to invest in important areas like infrastructure, social programs, and other essential services.
In conclusion, Jharkhand’s focus on maximizing mineral revenue through a proposed cess increase highlights its commitment to funding state development and improving the well-being of its citizens. This move could have significant positive impacts on the state’s financial future.