Finance minister Pranab Mukherjee has focused and revamped the budget profile by crafting a short term goal strategy for the long term growth, for the year 2010-11. However, the economy is steadily moving above the line with a growth rate of 7.2 per cent this current fiscal, at the expense of high fiscal deficit of 6.8 per cent in the GDP.

At the moment, the important factor for India growth story to continue is to balance the high fiscal deficit and invest more on infrastructure.

From the corporates to bourses and the common man, all were expecting a hike in excise duty up to 10 per cent, as it was still lower than the rate of 12 per cent.

But when it comes to execute something important, things went hay way in the Lok Sabha when Mr. Mukherjee announced the amendments.

With much to the amaze, the entire Opposition ganged and protested against the hike in customs and excise duty on petrol and diesel, keeping in mind the effect of the same on inflation and also the promises made to public as elections nears.

However, no one noticed that the cut in duties on petroleum goods was affected due to the ruling of crude oil in international markets at a high of about $147 a barrel. When the crude oil is treading the waters at half its price, why should the government bear the impending of wasteful subsidy?

According to Prime Minister, Mr. Manmohan Singh, the full picture must be considered, emerging out of the budget.