Senior officials in the finance ministry said that any such exercise wouldonly be undertaken towards the end of the financial year, if required.They said budget estimates are calculated taking into account expectedgrowth of various sectors in the financial year and it can always getaffected if the expectations are not met.

Expected to grow at around 22 per cent over the last year's collection,budget estimate for indirect tax collection in 1999-2000 has been placed atRs 1,13,934 crore.

Witnessing a growth of 16.88 per cent, total collection of indirect taxes infirst seven months of the current fiscal was Rs 59,142.73 crore. If thistrend continues, indirect tax mop-up in the whole year is expected to fallshort of the budget estimates by more than Rs 5,000 crore.

This shortfall may grow further if the Government goes in for a cut incustoms duty on crude oil. Budget estimates for customs duty collection in1999-2000 is placed at Rs 50,369 crore-23.1 per cent higher than last year'scollection. Rising international oil prices have contributed a major chunkto the customs kitty in the current fiscal. However, customs duty collectionduring the period April-October 1999, has been Rs 25,940.06 crore showing agrowth of 14.97 per cent only, over the same period last year.

On the excise front, budget estimate for 1999-2000 has been fixed at Rs63,565 crore - 21.8 per cent higher than the last year's collection. Exciseduty realisation upto October this year had been Rs 31,635.64 crore showinga growth of 19.43 per cent over last year's collection for the sameperiod.

Officials said that the Central Board of Excise and Customs is taking allpossible steps to enhance duty collections in the coming months. The boardhas chalked out a plan to reduce the shortfall in the indirect taxcollection for the whole year by over Rs 1,000 crore. The measures taken byit includes speedy settlement of high-stake revenue litigations andintroduction of new excise audit system.