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New Delhi Feb. 26 The Finance Minister, Mr P. Chidambaram, has sanctioned Rs 38.48 crore to the Central Board of Excise and Customs (CBEC) for improving its infrastructure and functional efficiency.

This is being given as an incentive for the CBEC's revenue collection efforts in fiscal 2005-06.

As against the indirect taxes collection target of Rs 1,91,450 crore, the CBEC had not only achieved the target, but also surpassed it by Rs 8,615 crore.

"We have now been allowed to spend one per cent of the additional revenue collected for improving our infrastructure and functional efficiency. This would translate to about Rs 86 crore, of which Rs 38.48 crore has been sanctioned for this year. This expenditure will be met from budgetary allocation of Rs 40 crore in the current financial year," a CBEC official said.

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