NEW DELHI: The Centre has earned over Rs 300 crore in revenues from exploitation of natural resources in last three years while Gujarat alone did Rs 250 crore business even as India is yet to commence any form of annual environmental accounting of its resources, said a Concept Paper on Natural Resource Accounting in India.
The paper, prepared by the Government Accounting Standards Advisory Board (GASAB) under the aegis of the C&G, recommends implementation of Natural Resource.
Accounting in India (NRA). The paper mentions that from financial years 2015-16 to 2017-18, the revenue receipts registered an increasing trend over three years in almost all the States except Odisha, where receipts in 2016-17 registered a decreasing trend in 2015-16.
The paper envisages NRA implementation in a phased manner, first in the states with the Asset Accounts in respect of mineral & energy, water, forestry & wildlife and land resources and then gradually rolls out at the national level in the country.
According to GASAB, the Asset Accounts will immensely help the States in capturing extraction/exploitation of natural resources which are of economic importance to them and also in keeping an eye on their sustainability for future generations.