Tamil Nadu Plans to Boost Revenue From Mines

The natural resources department has achieved Rs. 1,079 crore in mineral revenue in three months - from April to June - this year, as against Rs. 999 crore during the same period last year, showing a rise of about 8 per cent, raising optimism that the department would earn more revenue in the financial year since the new policies have been launched only now. 

The government is exploring new technologies at the international level in mineral exploration, extraction, sustainable supply chain, recycling, manufacturing and value addition of mineral



resources.

The government is seriously reviewing the existing policy framework governing the mining sector. Natural resources minister T.K. Prabhu had announced the formation of Tamil Nadu Mineral Resources Development Corporation Limited to boost government revenue. 

The government also hopes to raise its revenue through the mineral bearing land tax. Till now, private players have been involved in mining and earning huge profits amidst allegations of irregularities resulting in losses to the government, besides degradation of the environment due to indiscriminate quarrying.