Jharkhand Economic Survey Projects ₹19,300 Crore Mining Royalties for FY 2024-25

Ranchi, February 28: Jharkhand's mining sector continues to be a cornerstone of the state's economic growth, with the latest Economic Survey projecting mining royalties to generate ₹19,300 crore in the ongoing fiscal year 2024-25. This marks a 20% increase compared to the revised estimates from the previous year, underscoring the sector's expanding contribution to the state's non-tax revenue.

According to the survey, the total value of mineral production in Jharkhand as of March 2024 stood at approximately ₹75,358 crore. The state's abundant mineral reserves, including coal, iron ore, bauxite, copper, and uranium, position it as a key player in India's mining industry, accounting for nearly 40% of the nation's total mineral resources.

Jharkhand’s Mining Growth and Economic Contributions​

The survey, presented in the Jharkhand Assembly by Finance Minister Radhakrishna Kishore, highlighted that despite its vast mineral wealth, the direct employment in the mining sector remains limited to around 20,000 workers. This emphasizes the need to activate inactive mines and boost employment opportunities.

To enhance revenue efficiency, Jharkhand is actively studying successful mining models from Odisha and other states, aiming to improve mining operations and sustainability.

NTPC’s Coal Production Boost​

The report also noted NTPC’s coal mining performance, which exceeded 19 million tonnes (MT) in the first half of FY 2024-25, reflecting a 20% year-over-year growth. This surge in coal output has significantly bolstered India's thermal power sector, ensuring fuel security for power plants across the country and reinforcing Jharkhand’s position as a leading coal producer.

Focus on Industrial Growth & Sustainable Development​

The state government is placing a strong emphasis on sustainable development, with the Department of Mines and Geology prioritizing:

• Value addition and local processing of minerals.
• Promoting downstream industries to enhance employment opportunities.
• Infrastructure development and exploration activities to attract investments.

Jharkhand's industrial landscape continues to evolve, with strategic policy interventions, infrastructure expansion, and investment-friendly initiatives playing a crucial role in the growth of key sectors like mining, steel, cement, and energy.

Future Outlook​

With a continued focus on infrastructure, policy reforms, and innovation, Jharkhand is set to witness robust industrial expansion, driving economic prosperity and improving livelihoods across the state.