VIJAYAWADA: The Mines and Geology department is exploring options for reaching the revenue target of Rs 3,500 crore from mines set for the financial year 2021-22. The department has already collected 81 per cent of the target by November 25 and officials are confident of reaching the target by March 2022.
“In fact, our priority is to cross the target by the end of the financial year. As the target for the next fiscal will naturally be more than that of the present fiscal, we will draw an action plan for the same,’’ an official of the Mines and Geology department said.
Stating that Mines and Geology Minister Peddireddy Ramachandra Reddy had issued directions to the officials to identify the vast mineral resources in the State and improve the mineral-based income, the official said that a target of `5,165 crore revenue was fixed for the next fiscal (2022-23).
Maintaining that the government was not compromising on environmental issues, the official said that the focus was on generation of more revenue by monitoring mining activities to ensure that leaseholders were not flouting the prescribed norms.
Asserting that the AP Mineral Development Corporation (APMDC) has already taken initiatives for increasing the income from mines, the official said that tenders have been called for handing over the task of seigniorage collection of all the minor minerals to outsourcing agencies.
Seigniorage fee collection through outsourcing agencies will increase revenue, the official said, adding that this would help the APMDC staff to monitor mineral transportation and identify potential leakage areas effectively. “Apart from the seigniorage fee collection, we are also making necessary changes such as cancelling the leases for those who do not start mining after getting leases and other measures to increase the revenue.”