INDIA'S BUSINESS BOOMS WITH STRONGEST GROWTH IN 7 MONTHS

In a significant development from Bihar, the Mines and Geology department of the state government has raised concerns over the shortfall in revenue collections from the mining sector for the financial year 2023-24. As of February 14, 2024, the department has managed to collect only Rs 1,896.43 crore against the set target of Rs 3,662.39 crore, marking a mere 51.78 percent achievement of the goal.

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The underperformance has been particularly noted in several districts, including Nalanda, Kaimur, Gaya, Aurangabad, Nawada, Jehanabad, Lakhisarai, Jamui, Munger, Kishanganj, Banka, Bhagalpur, and Saran, where the revenue collection is alarmingly below 50 percent. The Mines and Geology department has issued a stern warning to officials in these districts, indicating that strict disciplinary actions will be taken if there isn’t an immediate improvement in revenue collection.

The department has urged the District Mining Officers (DMOs) to intensify their efforts to crack down on illegal mining activities, including unauthorized sand mining, transportation, and storage. These illicit operations significantly impact the state’s revenue, and combating them is crucial for meeting the fiscal targets.

Moreover, the performance in penal actions for illegal mining activities has also been below expectations. The department has collected only Rs 221.61 crore, which is 52.90 percent of the anticipated Rs 418.49 crore from penal actions. This indicates a need for a more aggressive approach towards illegal mining operations in several districts, including Jamui, Nalanda, Kaimur, and Bhagalpur, among others.