Cabinet note on royalty to be ready in a week: Govt
New Delhi, Dec 5 (UNI) A Cabinet note will be ready within a week for revising the royalty to states on coal and minerals, the government assured the Lok Sabha today.
Finance Minister P Chidambaram and Minister of State for Coal Dasari Narayan Rao said the revised royalty would be partly on the basis of ad valorem rate and partly on tonnage.
The new royalty would be in force in three to four months, Dr Rao said.
Mr Chidambaram said the Centre would also take a decision soon on some states levying cess on minerals mined in their and this would be uniformally applicable to all states.
Responding to a calling attention raised by Mr Braja Kishore Tripathy and Mr Prasanna Acharya (both BJD) and Mr Basudeb Acharia (CPI-M), Dr Rao said there was some problem in accepting the demand for royalty payment only on ad valorem basis.
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