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Time of India
39 minutes ago
- Time of India
CG now tops GSDP share from mining, leads in forest gain
Raipur: Chhattisgarh's mining sector now contributes the highest share to any Indian state's economy -- 9.38% of its gross state domestic product (GSDP). This figure surpasses traditional mining giants like Odisha (9%) and Jharkhand (5.3%), according to the Union ministry of statistics and EY's 2025 sectoral analysis. But, experts say, what sets Chhattisgarh apart is not just the economic magnitude of its mining industry. It's the state's defiance of the belief that mining and environmental sustainability can't go hand-in-hand, experts added. Chhattisgarh is extracting value through mining activities while regenerating the green. Mining contributes just about 2.2% to the national GDP. Secretary, mineral resources department of Chhattisgarh, P Dayanand told TOI, "Of the state's 1.35 crore hectares of geographical area, nearly 44.3% (about 59.8 lakh hectares) is forest. Since 1980, only 28,781 hectares -- around 0.47% of that forest area -- have been diverted for mining that ranges to only 0.21% of the state's total land. And not all of that diversion impacts the ground: The underground mining, which covers 12,783 hectares across 27 mines, leaves the forest canopy untouched. Open cast mining accounts for just 0.26% of the forest area on 16,000 hectares." "What distinguishes Chhattisgarh is its phased approach to mining. Rather than mass clearances, only 5% to 6% of trees is felled each year over a mine's 40–50-year lifespan. For instance, at Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVNL) PEKB coal mine in Hasdeo Arand coalfield, about 80–90 hectares are cleared annually while the approval is for 1,900 hectares. This gradual clearance allows ecosystems to adapt and regenerate," added Dayanand. "Every rupee earned from mining is being reinvested into our villages, farmers, and future. It's a model built on deliberate policy and disciplined execution. We are committed to operationalising our auctioned blocks without compromising our green ethos," Chhattisgarh CM Vishnu Deo Sai told TOI. In 2025, the state is planting 2.5 crore saplings under the 'Ek Ped Maa Ke Naam' campaign — an area equivalent to 25,000 hectares, CM said. For every hectare of forest diverted, 5 to 10 hectares worth of trees are planted at a rate of 1,100 saplings per hectare. According to India State of Forest Report, Chhattisgarh has registered a net gain of 68,362 hectares in forest cover, the highest among all Indian states. Besides afforestation by forest department, companies like Bhilai Steel Plant, RRVNL, and SECL have also begun reclaiming mined-out areas, handing them back for ecological restoration. BSP has reclaimed 48% of its mined land, RRVNL 28%, and SECL 16%, says data. Chhattisgarh underperforms on revenue realisation Mining sector provides direct employment to about 2 lakh people and indirectly supports another 20 lakh across steel, cement, aluminium, and power sectors. Yet, experts point out that Chhattisgarh is still underperforming on revenue realisation. While mining revenues have grown from Rs 6,110 crore in 2018–19 to Rs 14,000 crore in 2024–25, Odisha saw a fourfold increase in the same period, from Rs 10,499 crore to Rs 45,000 crore — largely due to faster operationalisation of auctioned mineral blocks. "Chhattisgarh still has work to do. Speeding up mine activation could unlock vital funds for key welfare schemes like Mahtari Vandan Yojana, PMAY, Jal Jeevan Mission, and the Rs 50,000 crore Bodhghat multipurpose dam project," said an official.
Time of India
39 minutes ago
- Time of India
Chhattisgarh now tops GSDP share from mining, leads in forest gain
RAIPUR:Chhattisgarh's mining sector now contributes the highest share to any Indian state's economy -- 9.38% of its gross state domestic product (GSDP). This figure surpasses traditional mining giants like Odisha (9%) and Jharkhand (5.3%), according to the Union ministry of statistics and EY's 2025 sectoral analysis. Tired of too many ads? go ad free now But, experts say, what sets Chhattisgarh apart is not just the economic magnitude of its mining industry. It's the state's defiance of the belief that mining and environmental sustainability can't go hand-in-hand, experts added. Chhattisgarh is extracting value through mining activities while regenerating the green. Mining contributes just about 2.2% to the national GDP. Secretary, mineral resources department of Chhattisgarh, P Dayanand told TOI, 'Of the state's 1.35 crore hectares of geographical area, nearly 44.3% (about 59.8 lakh hectares) is forest. Since 1980, only 28,781 hectares -- around 0.47% of that forest area -- have been diverted for mining that ranges to only 0.21% of the state's total land. And not all of that diversion impacts the ground: The underground mining, which covers 12,783 hectares across 27 mines, leaves the forest canopy untouched. Open cast mining accounts for just 0.26% of the forest area on 16,000 hectares.' 'What distinguishes Chhattisgarh is its phased approach to mining. Rather than mass clearances, only 5% to 6% of trees is felled each year over a mine's 40–50-year lifespan. For instance, at Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVNL) PEKB coal mine in Hasdeo Arand coalfield, about 80–90 hectares are cleared annually while the approval is for 1,900 hectares. This gradual clearance allows ecosystems to adapt and regenerate,' added Dayanand. 'Every rupee earned from mining is being reinvested into our villages, farmers, and future. Tired of too many ads? go ad free now It's a model built on deliberate policy and disciplined execution. We are committed to operationalising our auctioned blocks without compromising our green ethos,' Chhattisgarh CM Vishnu Deo Sai told TOI. In 2025, the state is planting 2.5 crore saplings under the 'Ek Ped Maa Ke Naam' campaign — an area equivalent to 25,000 hectares, CM said. For every hectare of forest diverted, 5 to 10 hectares worth of trees are planted at a rate of 1,100 saplings per hectare. According to India State of Forest Report, Chhattisgarh has registered a net gain of 68,362 hectares in forest cover, the highest among all Indian states. Besides afforestation by forest department, companies like Bhilai Steel Plant, RRVNL, and SECL have also begun reclaiming mined-out areas, handing them back for ecological restoration. BSP has reclaimed 48% of its mined land, RRVNL 28%, and SECL 16%, says data. Chhattisgarh underperforms on revenue realisation Mining sector provides direct employment to about 2 lakh people and indirectly supports another 20 lakh across steel, cement, aluminium, and power sectors. Yet, experts point out that Chhattisgarh is still underperforming on revenue realisation. While mining revenues have grown from Rs 6,110 crore in 2018–19 to Rs 14,000 crore in 2024–25, Odisha saw a fourfold increase in the same period, from Rs 10,499 crore to Rs 45,000 crore — largely due to faster operationalisation of auctioned mineral blocks. 'Chhattisgarh still has work to do. Speeding up mine activation could unlock vital funds for key welfare schemes like Mahtari Vandan Yojana, PMAY, Jal Jeevan Mission, and the Rs 50,000 crore Bodhghat multipurpose dam project,' said an official. Chhattisgarh vs Odisha and Jharkhand: A Revenue Reality Check While Chhattisgarh leads in GDP share, its mineral revenue lags behind Odisha. In FY 2024-25: Odisha's mining revenue: ₹45,000 crore Chhattisgarh's mining revenue: ₹14,000 crore Jharkhand (not detailed in source but generally lower than Odisha)
Economic Times
39 minutes ago
- Economic Times
Rupee hits fiscal year low amid strong dollar, trade deal worries
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The Indian rupee slumped to its lowest this fiscal year against the dollar Tuesday on an across-the-board strengthening in the greenback amid uncertainty related to the impending trade deal with the US, dealers said. Month-end dollar demand from importers also exerted pressure on the local currency fell to 86.9150 to a dollar intraday, before recouping some losses, tracking domestic equity markets. It closed at 86.8150 to a dollar, the lowest level since mid-March, compared with the previous close of equities snapped a three-day losing streak with the benchmark indices closing higher Tuesday.'The dollar index has surged in the past two days, leading to a largely hands-off approach from the central bank, as the price action aligned with market forces. This unwinding in major currencies suggests the greenback might be finding a firmer footing after an extended period of weakness,' said Dilip Parmar, research analyst at HDFC said that the central bank, which intervenes to curb excessive volatility in the forex market, had a limited presence on Tuesday. 'The RBI likely sold dollars as the rupee touched 86.91 levels. The exchange rate touched 86.91 about three-four times today, and it bounced back every time,' said Anil Bhansali, head of treasury at Finrex Treasury AdvisorsIf the dollar continues to head north against a basket of currencies, the rupee is headed for a further slide.'A stronger dollar is likely to exert pressure on the Indian Rupee, potentially pushing it beyond the 87 mark,' Parmar dollar index surged on Monday mainly because of slump in the euro as the trade deal with the US and European Union is seen unfavourable to the bloc. During Indian market hours, the dollar index, which measures greenback against a basket of six currencies, extended gains and was trading above home, investors across equity as well as forex markets are expected to remain cautious given the worries over the trade deal, which is unlikely before the US President Donald Trump's August 1 deadline for higher attention will also be on the Federal Open Market Committee (FOMC), which is expected to keep interest rates on hold for the fifth time in a row following its meetings on July 29–30. The meeting comes amid Trump's repeated criticism of Powell over holding the policy rates.
