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Abstract
Economic rent is the basic rationale for mineral royalties. Conceptually, royalty is a payment made by the mining lessee to the state (the owner of the mineral) as a consideration for the mineral which the lessee extracts and sells or uses in their own plant. In India, a royalty on major minerals is charged on both a unit of production basis and on an ad valorem (specified percentage of sale value) basis. The royalty on minerals is always a focal point for government as well for industry. Any change in the royalty rate drastically affects the fiscal performance of the mining industry. This paper provides an overview of royalty collection on major minerals in India. An attempt has also been made to compare the rate for calculation of royalty in India with that in selected countries of the world.
Notes
1. The views expressed in this paper are the author s own and not necessarily those of the Indian Bureau of Mines, for whom he is working.