Centre to release Rs 6,320 crore to Assam as oil royalty
The Centre on Tuesday decided to release Rs 6,320 crore to the Assam government towards oil royalty for the period 2008-14, with Chief Minister Sarbananda Sonowal describing this as a significant gesture of the Centre towards the state. “The strong leadership of Prime Minister Narendra Modi and his keen interest to bolster development of Assam and Northeastern region has enabled the state to get its dues (oil royalty), which has long been ignored by the previous Congress-led UPA government,” said Sonowal, who met Union Finance Minister Arun Jaitley and Petroleum Minister Dharmendra Pradhan and other central ministers in New Delhi on Monday and Tuesday.
Thanking Modi, Sonowal said the Centre’s decision to release the sum “would augur well for spearheading a new paradigm of development in the state”. The royalty, which Assam has been demanding for a long time, would also bring back the confidence of the people and revive the growth cycle, he said.
A statement issued by the CM’s office said that as per the Ministry of Petroleum and Natural Gas, the difference in royalty to be paid by ONGC and OIL in respect of the Assam government was about Rs 1,350 crore and Rs 4,970 crore respectively. The total amount Rs 6,320 thus accrued as oil royalty from 2008 to 2014 would be paid to the Assam government in three installments, it said