Last year's revised estimate was brought down from the Budget projection of Rs 45,133.46 crore. Former finance minister P Chidambaram had envisaged nearly 20 per cent more in his Budget projection over the actual receipts of Rs 38,151.38 crore.

Sinha expects to earn more towards basic excise duty from 11 commodities this year. These include plastics, motor spirit, R D oil, cigarettes, motor vehicles, machinery, synthetic filament yarn, tyres and tubes, pharmaceutical products, wires and cables and iron and steel. Of these commodities five including iron and steel, plastics, machinery including electrical and non-electrical, cigarettes and synthetic staple fibre had contributed to the lower duty realisation last year.

In additionto these, the other commodities that had caused the revenue shortfall were cement clinkers, chemicals and cotton yarn had contributed to the shortfall.

The government's excise revenue from motor spirit and RD oil is likely to see a major hike according to the budgetary projection. In 1996-97, the government had earned a net revenue of Rs 1,961.97 crore towards excise duty on RD oil which was projected to go up to Rs 2,544.35 crore in the last Budget.

However, the amount was brought down to Rs 2,293.7 crore in the revised estimate which is now being projected at a whopping Rs 3,372.9 crore, a jump of nearly Rs 1,100 crore. Similarly, excise duty on motor spirit has shown a gradual upward trend with an actual receipt of Rs 2,281.12 crore in 1996-97 to a projected revenue of Rs 2,319 crore in the last Budget which was revised to Rs 2,676.53 crore. This year the minister expects to earn Rs 2901.24 crore.