Royalty for Minerals
26 JUL 2021 2:30PM by PIB Delhi
The rates of royalty on minerals are revised from time to time as per the provisions of the MMDR Act, 1957.
In order to evaluate the revision of royalty rates and dead rent for minerals (other than coal, lignite, sand for stowing and minor minerals), the Ministry of Mines vide order dated 09.02.2018 constituted a Study Group consisting of representatives from mineral rich states & representatives of Mining Industry /Associations /Federations. The Study Group has submitted its final recommendation on 25.07.2019. In the meantime, Union Cabinet on 13th January 2021 has approved the proposal of Ministry of Mines to introduce an index based mechanism by developing a National Mineral Index (NMI) for various statutory payments and others for future auctions. Accordingly, Ministry of Mines vide order dated 06.04.2021 has constituted a committee for developing NMI of individual minerals.
This information was given by The Minister of Mines, Coal and Parliamentary Affairs Shri Pralhad Joshi in a written reply in Rajya Sabha today.
(Release ID: 1739025)
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