Assam to get Rs 6320 cr oil royalty

With the Centre deciding to release Rs 6320 crore towards oil royalty due to Assam, Chief Minister Sarbananda Sonowal today thanked Prime Minister Narendra Modi for resolving the long standing issue.
The Centre's gesture will spearhead a new paradigm of development in the state, he said and also thanked Union Finance Minister Arun Jaitely and Petroleum and Natural Gas Minister Dharmendra Pradhan.
The decision to release oil royalty which Assam has been demanding for a long time will also bring back the confidence of the people and revive the growth cycle, Sonowal said in a statement here.
"The strong leadership of the Prime Minister and his keen interest to boost development of Assam and the North East has enabled the state to get its dues (oil royalty) which has long been ignored by the previous Congress-led UPA government," he added.

As per the petroleum and natural gas ministry, the difference in royalty to be paid by ONGC and OIL to Assam is about Rs 1350 crore and Rs 4970 crore respectively.
The total amount of Rs 6320 thus accrued as oil royalty during 2008-2014 will be paid to Assam government in three instalments.