Physical and monetary asset accounting of mineral resources in India

In this paper, we have constructed the physical and monetary asset account of mineral resources in India using the SEEA framework. We have used the Net Present Value approach to prepare the monetary asset account of Manganese Ore, Iron Ore, and Bauxite. We found that reserves of all three mineral resources have declined from 1995 to 2015 due to the steady growth of mineral extraction. The extraction rate of bauxite was faster than that of iron ore and manganese ore. Though all the minerals gave negative resource rents to the economy in 1995, it turned positive and recorded growth in the subsequent years. Because of negative resource rent in 1995, NPVs of all minerals were negative in 1995. Overall, the NPV of the resources has grown remarkably from 1995 to 2015. Our research contributes to the target two of SDG 12 which aims to achieve the sustainable management and efficient use of natural resources by 2030.

Automated summary

This paper constructs the physical and monetary asset account of mineral resources in India using the SEEA framework, and employs the Net Present Value approach to analyze Manganese Ore, Iron Ore, and Bauxite. It reveals that the reserves of these minerals have gradually declined from 1995 to 2015 due to the growth of mineral extraction, with Bauxite showing the fastest extraction rate. Although all minerals had negative resource rents in 1995, it turned positive and recorded growth in the subsequent years. Overall, the NPV of the resources has significantly increased from 1995 to 2015. This research contributes to SDG 12, Target 2, which aims to achieve the sustainable management and efficient use of natural resources by 2030.