The most awaiting budget is out and now will see how it will “actually” affect the overall economy of more than 1 billion people.

Focus was on development of rural areas, agriculture and improving the growth rate. We are presenting before you some basic and most important proposals presented today by Hon’ble Finance Minister Pranab Mukherjee in Parliament.

Agriculture: Good news showered on the farmer’s community, interest rate on agriculture loans has been reduced and increase in budget group for tribal has been introduced to promote organic farming. The Rashtriya Krishi Yojna will raise the provision from Rs. 6755 crore to Rs. 7860 crore .

Education: Education sector has also got great proposals; Rs. 57,057 crore will be allocated to education sector. Vocational training schemes will help solving the problem of unemployment among youth. Allocation of Rs. 21,000 crore will be given to raise the literacy mission. Anganwadi teachers will get 100% hike in salary and for all backward regions allocation has been increased to 35%. Pension amount is proposed to increase from Rs. 200 to Rs. 500.

Banking: Boost to infra division has been announced by introducing Tax free bonds of Rs 30,000 crore. Foreign institutional investors can now invest in mutual funds. Banks to cover 20,000 villages for opening accounts in Fiscal Year12.

Indian rupee symbol is declared to be introduced on keyboards in Unicode in keeping with ‘international standards’.

Consumer Goods: Summer will be cool this year as air conditioners are expected to become cheaper. Duty will be reduced on LEDs to promote adoption by more automakers. Duty has also been reduced on hybrid & electric cars along with batteries imported for such vehicles.

Others: Rural broadband connectivity to be provided in 3 years. Under hunger and malnutrition, food security bill will be introduced this year. Comprehensive national policy to control the trafficking of narcotic drugs.

Assistance to N-E states will be doubled to provide Rs. 200 crore for cleanup of lakes. Rs 200 core for launching environmental programs.

Rs 8,000 crore for development of J&K. Service tax remains at 10 per cent. Service tax on hotel accommodation above Rs 1500 per day has been declared.

Domestic travel to pay Rs 50 service tax, Rs 250 on international travel. Hospitals with centralized AC and more than 25 beds are now under service tax.

Age for being classified as senior citizen has been cut to 60 years from 65 years.

As usual, now it’s your turn to speak your views, this budget could help common citizen to fight growing inflation or it will remain that same old story?