Vijayawada: Mining sector earns Rs 4,692 cr revenue in 2022-23 fiscal

Vijayawada: Minister for mines, geology and environment Peddireddi Ramachandra Reddy said that the mining sector has earned a revenue of Rs 4,692 crore during the 2022-23 fiscal year and added that it was Rs 192 crore more than the target of Rs 4,500 crore.

He conducted a review with mines and geology and APMDC officials at his camp office in Vijayawada on Tuesday.

Speaking on the occasion, the minister informed that by implementing the reforms in the mining sector, the government achieved good results in earning revenue and added that around 81 per cent growth was registered in the major minerals and 125 per cent growth in the minor minerals.

He said that the state government has done a lot for the development of the mining sector, and asked the officials to achieve their targets proportionately.

Chief Minister Y S Jagan Mohan Reddy had brought transparency and accountability in the mining sector; due to this, good growth was registered, he added.

He said mining activities were in progress in 3,142 mining leases out of 4,222 leases across the state. They were taking special steps to carry out mining activities in another 1,080 mining leases. Referring to the Andhra Pradesh Mining Development Corporation (APMDC), the Minister said that the APMDC earned Rs 1,801 crore revenue in the preceding fiscal year, which was Rs 900 crore more compared with the previous year's income. He said that they set a target of getting Rs 2,137 crore for the current financial year (2023-24).

Mines and geology principal secretary Gopal Krishna Dwivedi, APMDC vice-chairman and managing director V G Venkata Reddy, vice-president Ram Narayanan, advisor DLR Prasad, mining JD Raja Babu and others participated.