Jharkhand flags Rs 2,000 cr GST loss, pushes CSR, carbon credits at Mining Summit

Jharkhand could lose nearly ₹2,000 crore in revenues with the rollout of the Goods and Services Tax (GST), Finance, Planning and Development Minister Radha Krishna Kishor said on Saturday. Speaking at the 4th Jharkhand Mining Summit, he assured that banks like SBI and HDFC would support the mining industry during the transition.

He urged companies to channel Corporate Social Responsibility (CSR) funds toward urgent social challenges and highlighted the growing role of carbon credits in ensuring sustainable mining.

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The summit, organised by the PHD Chamber of Commerce and Industry (PHDCCI) with support from the Ministry of Coal, was held in Ranchi on the theme “Advances in Sustainable Mining.”

Ravi Ranjan, IFS, Additional Principal Chief Conservator of Forests, underlined the need to balance Jharkhand’s mineral wealth with its dense forests. Mining, he said, must remain sustainable not only during operations but also after closure. He cited Ramgadar as a potential site for solar power projects and noted that Jharkhand is the first state to form a dedicated task force for sustainable mining.

PHDCCI Chair Dr. Sanjay Kumar stressed the urgency of technological upgradation in the sector, arguing that innovation and modernisation are key to responsible growth.

Closing the deliberations, Prabhat Ranjan, Director of IDL Explosives, called for research partnerships with zoology departments to integrate biodiversity into mining practices.

With nearly 350 stakeholders in attendance, the summit reinforced the message that mining in Jharkhand must evolve beyond economics, linking technology, environment, and social responsibility.