Jharkhand’s Economic Survey, tabled in the Assembly on Friday, has projected mining royalties to generate an estimated Rs 19,300 crore in the ongoing fiscal year, reflecting a 20 per cent increase over the revised estimates of the previous year.
The total value of mineral production in the state stood at approximately Rs 75,358 crore as of March 2024, underscoring its rich reserves of coal, iron ore, and bauxite.
Jharkhand, which holds nearly 40 per cent of India’s total mineral resources, continues to be a pivotal contributor to the country’s mineral output.
“In the fiscal year 2024-25, Jharkhand’s mining sector has continued to demonstrate robust growth, solidifying its role as a key driver of the state’s economic development. The sector’s contribution to the state’s non-tax revenue continues to grow, with mining royalties projected to generate Rs 19,300 crore for FY 2024-25,” the survey, presented by Finance Minister Radhakrishna Kishore, stated.
Despite the state’s abundant mineral wealth, the survey highlighted that the mining sector directly employs only around 20,000 workers, underscoring the need to operationalise inactive mines to enhance employment opportunities and maximise resource potential.
The sector remains integral to Jharkhand’s industrial growth, revenue generation, and employment landscape. To improve efficiency and revenue optimisation, the state government is studying successful mining models in states such as Odisha.
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The survey noted that NTPC’s coal mining operations recorded remarkable production figures, exceeding 19 million tonnes in the first half of FY 2024-25—a 20 per cent year-on-year increase.
This substantial output has bolstered India’s energy sector by ensuring fuel security for thermal power plants across the country, reaffirming Jharkhand’s position as a leading coal-producing state.
As part of its commitment to sustainable development, the Department of Mines and Geology is emphasising value addition, local processing, and promoting downstream industries to spur employment and strengthen the local economy.
The government is prioritising infrastructural development, exploration activities, and investor-friendly policies to unlock the industrial sector’s full potential.
“Jharkhand’s industrial landscape reflects a compelling narrative of growth, resilience, and transformative potential. As one of India’s most resource-abundant states, Jharkhand continues to leverage its deposits of coal, iron ore, and other minerals to drive economic expansion and foster industrialisation. The state’s strategic policy interventions, infrastructural initiatives, and targeted incentives have paved the way for sustained growth across key sectors such as mining, steel, cement, and energy,” the survey noted.
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