Mining Sector and Its Impact on Odisha Economy: Proper Utilization of Limited Resources using Forecasting Techniques

Gitanjali Panda^1,

¹Fakir Mohan University, Balasore, Odisha, India

Cite this paper

Gitanjali Panda. Mining Sector and Its Impact on Odisha Economy: Proper Utilization of Limited Resources using Forecasting Techniques. Journal of Business and Management Sciences. 2014; 2(3A):41-45. doi: 10.12691/JBMS-2-3A-6

Abstract

In this paper an attempt has been made to show the economic significance of mining sector in the context of Orissa Economy in terms of value of total extractions, total employment generation and contribution of mining sector to State Gross Domestic Product and total revenue generation. Despite being the highest mineral rich state of the country, the state is designated as one of the poorest states because benefits of mining have gone to few hands caused by large scale corruption. The paper has explored how corruption starting from allotment of lease till the valuation of minerals and fixation of royalties has deprived the state exchequer from its dues, resulting in greater inequalities between the rich and the poor in the state.

Keywords

mining, limited resources, corruption, economy, forecasting analysis

Copyright

This work is licensed under a Creative Commons Attribution 4.0 International License. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/

References

[1]	Asher, M. (2006). Steel not enough, Economic and Political Weekly, February 18.
[2]	Pradhan, J.P. (2007). Tata Steel’s Romance with Orissa, Mineral-based Underdevelopment and Federal Politics in India, Institute for Studies in Industrial Development. New Delhi, February.
[3]	Sahu, G. (2008). Mining in Niyamgiri Hills and Tribal Rights, EPW, April 12.
[4]	Economic Survey, (2011-2012). Government of Orissa, Planning and Coordination Department.
[5]	Mining Resources of Orissa Document, (2012). Mining Corporation of Odisha.