Computerised excise by 2005: FM

Finance Minister P Chidambaram today said that computerisation of excise collection was expected to be completed by the next fiscal.

"80,000 assessees contribute over Rs 1 lakh crore to the exchequer. This a manageable number. If we can sell tickets to over 80,000 people for a cricket match, why can't we have a virtual stadium where the 80,000 assessees can have six slots. Hopefully it will be in place by the next fiscal," Chidambaram said while addressing a seminar on "Liberalising technology for governance".

"When the tax information network is fully in place, information will flow to a central point and we will have far more information on individuals and it will a ensure better tax compliance," he said.

He also said that computerisation would help monitor revenue collection on a real-time basis  and provide a service to tax payers.

Chidambaram earlier focused on the use of technology in daily life. "Technology should not be confined to information technology only. New technology must be used in water supply projects, in the construction of fireproof school buildings and to provide basic amenities," he said.