Telangana Mining Income Growth Rate Rises To 69%

Telangana Mines & Geology Minister K T Rama Rao today lauded the State for an unforeseen growth in revenue through sand and mineral mining, surpassing budget targets and expectations.

Speaking in a meeting, the Minister said that the State had already achieved the half-year target. Mining registered an income growth rate of 69%. Sand mining alone stands at 57% for the April-September half-year results comprising the two quarters. Mineral mining alone generated a revenue of Rs. 357.41 crores for the same period as opposed to Rs, 211.4 crores last year, whereas sand mining fetched Rs. 183.7 crores as opposed to Rs. 117.14 crores last year.

He directed officials to call a meeting with Collectors on mining and prepare modalities to give incentives to the mining staff in the form of better incomes.

Rao also asked Singareni Chairman and Managing Director Sridhar to pay pending coal production royalties of Rs. 1,000 crores to the State government immediately without fail.