The United Progressive Alliance (UPA) Government presents its first Union Budget 2004-05 today. Hopes are high on this Budget partly because the Prime Minister Manmohan Singh is an acclaimed economist and Finance Minister is a seasoned politician and has had varied experience. Earlier he was Minister of Trade and Commerce and also the Finance Minister in previous Governments.

This time around Chidambaram is said to have had wide consultations with several trade bodies, industrial groups in his effort to give the Budget a human face.