The finance minister Mr Palaniappan Chidambaram is one of my favorite people in the political field.He is highly educated, suave and truly articulate.I take this godsent opportunity to reflect on his budget proposals for ’06-’07 from a common layperson’s perspective.In the previous fiscal year, ’04-’05, the GDP growth was 7.5%.In the year ’05-’06 this growth is estimated to be 8.1%.Manufacturing grew at 9.4% while agricultural growth was pegged at 2.3%.All sectors except mining have been doing extremely well.Inflation as on February 11, 2006 was 4.02%.The present budget allocates bulk of resources to education, drinking water, health and urbanisation.Outlay for primary education has increased from 7156 crore to 10, 041 crore.That of drinking water has increased from 3645 crore to 4680 crore.The budget envisages elimination of polio.Metro rail services to be introduced in Mumbai and Bangalore.Finance Minister(FM) expressed hope that improved infrastructure will attract more FDI.A bill for statutory framework for microfinance will be tabled shortly.In manufacturing importance will be given to textiles, food processing, chemicals and of course IT.In fact FM aims to make India a preferred destination for hitech products.We are fortunate that services sector is growing exponentially.Impetus will be given to further growth.More reforms will be affected in the area of banking, insurance and capital markets.FII investment in government debt has increased to $2 bilion.There has been no enhancement in personal taxation rates.In indirect taxes there is increase in rates for packaged software, ATM operations, share transfers.Decrease in prices of small cars, aerated drinks, leather goods, AIDS drugs are all welcome.I choose to judge the FM by his budget because that is one effort of his which the public knows about and probably understands.The current budget has no sops for anyone in particular.Nor are there any punches in the face.As always FM has done a brilliant job.We love you FM!