The UPA government's first full-fledged budget in its second term in office delivers the goods, notwithstanding the stiff criticism from opposition. While it may not be a case of 10/10, yet kudos to the Finance Minister who has not only successfully allayed all the fears over a sudden withdrawal of the economic stimulus package but also been able to appease the common man or the salaried class by leaving the tax rates untouched, while restructuring the tax slabs to give it the much-needed relief from the runaway food prices-led inflation in recent times.

When the septuagenarian Pranab Babu, as he is fondly referred to by his own partymen, critics and media alike, rose to present this year's Union Budget, he must have been aware that the entire nation would be looking at him as the country was passing through one of the worst economic crises in the history of the global economy since the World War II. A veteran Congress leader and a seasoned campaigner, the man from Mirati in Birbhum, West Bengal, hence, knew that the task on hand was no less daunting. The whole nation was waiting with bated breath for the Union Finance Minister to present a budget that can help the country's spectacular yet fragile recovery from the aftershocks of the global financial crisis that unfolded in October 2008 and sustain itself before the government withdraws the economic stimulus package introduced in the wake of the unprecedented crisis. However, delivering on the expectations of everyone, from industries to individual taxpayers, was not so easy, given that the government was losing out billions of rupees on account of a myriad of duty cuts, lower taxes and several other incentives, which were not only straining the exchequer but also widening the government's fiscal deficit. And even before the FM could settle in his seat after finishing his budget speech, the Dalal Street greeted him by sending the Sensex up 175 points at the close.

Has the FM been able to meet the wish list of businesses as well as the common man, not to forget the individual taxpayers, while at the same time, ensuring that the economy remains on the recovery track? The Analyst takes a look at some of the major budget proposals and their possible impact.

The Analyst Magazine, Economic Stimulus Package, Worst Economic Crises, Global Economy, Global Financial Crisis, Private Sector Parties, Watershed Management, External Commercial Borrowings, ECBs, Financial Inclusion, Banking Operations, Social Sector Schemes, Market Capitalization, Infrastructure Sectors, Clean Energy Technologies.