The Indian team just got richer by another Rs 10 crore.

Sharad Pawar [Images], the President of the BCCI who sounded emphatic over the Indian team's win against Australia on Tuesday announced a Rs 10 crore cash award for the team.

Pawar was in Bangalore to receive the Under-19 Indian cricket team which touched down in the city after winning the U-19 world cup against South Africa on Sunday.

Pawar congratulated MS Dhoni [Images] and his men for their victory while announcing the award. He also announced a cash reward of Rs 1 crore for the selectors of the Indian team while lauding the selection.

Pawar also said that the team would get a grand reception and a public welcome at New Delhi on March 6 on their return from Australia. He also said that the award would be given to the players on their arrival at New Delhi on March 6.

India beat Australia by a 2-0 margin in the best of three finals of the Commonwealth Bank series on Tuesday.

Pawar said that the loss to Bangladesh in the world cup had hurt the team and the management no end. Since then there is this thirst to win, he said.

Beating Australia in Australia was a great achievement and it has made everyone emphatic, he added.

Pawar also announced that a cricket training academy would be set up in Karnataka soon. He said that 35 acres of land would be granted by the Karnataka government soon and the modalities were being worked out before it became a reality.

Captain of the Indian Test team, Anil Kumble [Images] and former captain, Rahul Dravid [Images] who were also present to welcome the Under-19 team said that it was a great effort by Dhoni and company. They said that it was a great win and the team needed a pat on the back.