Srikakulam: Increased seigniorage on mines affects construction field

Srikakulam: Enhancement of seigniorage charges and consideration fees (charges for approval) on various mines, minerals and mining activities is putting additional burden on the construction field.

In addition to the exorbitant prices of cement,iron, brick and sand cost of the gravel, granite, stone chips andmetal also increased. The State government enhanced seigniorage charges and consideration fees on mines and minerals through GOMS numbers13, 42, 65 and 90 as part of improving its revenue sources.

Earlier, seigniorage on one ton ofgravel was Rs 60, now with addition of consideration fee the same is enhanced to Rs 120. The charges and feesboth were enhanced up to 100 percent than existing on granite, stonechips and metal as well.

Earlier, a tractor load of gravel would cost Rs1500,but now it has increased to Rs 3,000. A lorry load stone chips were priced Rs 12,000, now it crossed Rs 19,000.

Mines and geology deputy director K Surya Chandra Rao said that they are following the government orders and implementing enhancedseigniorage charges and consideration fees.