Bhubaneswar, March 22 -- Odisha has incurred a substantial revenue loss of Rs 4,162.79 crore during 2020-21 and 2021-22 due to the undervaluation of iron ore, which led to lower royalty collections, according to official data from the state's Steel and Mines Department.

According to a Business Standard report, the losses were primarily linked to mineral transportation along the Joda-Koida-Jajpur Road corridors, key routes for dispatching iron ore from major mining zones. Despite recent efforts by the state to tighten surveillance and plug loopholes in mineral movement and grade reporting, discrepancies persisted during the period under review.

Citing findings of the Comptroller and Auditor General of India, the department highlighted th...