Drop in iron ore prices: Odisha witnesses sharp dip in mining revenue collection in FY 2022-23

The drop in iron ore prices in domestic as well as international markets has resulted in a sharp fall in revenue collection from the mining sector, a major contributor to Odisha’s exchequer.

Total collection of revenue from the sector during 2022-23 financial year is estimated at Rs 37,174 crore (provisional figure) compared to Rs 49,858 crore collected in the previous 2021-22 financial year, according to official figures available with Odisha’s steel and mines department.