Odisha losing Rs 5 cr a day due to delay in rate revision

Claiming that Odisha was losing Rs 5 crore daily due to delay in revision of rates of royalty on minerals, state Chief Minister Naveen Patnaik today sought Prime Minister Manmohan Singh's intervention for immediate notification of revised rates.
"Due to delay in notification of revision of rate of royalty, the state government is losing approximately Rs 5 crore per day," Patnaik said in a letter to the Prime Minister.
He said the estimated loss was calculated assuming the present level of production and approval of the revised rates of royalty suggested by the Study Group concerned.
A Study Group constituted by the central government on revision of rates of royalty and dead rent has submitted its report in June last year, Patnaik said, adding, the matter was still pending with the Centre for issue of notification on revision of royalty.

"I would, therefore, urge upon the central government to notify the revision on rates of royalty and dead rent on major minerals without any further delay," the chief minister said in his letter.
The rates of royalty and dead rent were last revised by the Centre with effect from August 13, 2009 and as such the enhancement in the rates of royalty and dead rent were due from August 13, 2012, the Chief Minister said.
Royalty rates on minerals should to be revised regularly and the decision about revision of rates of royalty should be taken well before the date on which the revision was due, he said.