By Jyotsna Singh BBC correspondent in Delhi

The budget has been praised by business and industry

Opposition parties described it as the budget for rich people.

Business and industry spokesman have hailed it as "outstanding" while ordinary citizens are divided over its provisions.

Several opposition parties accused the government of presenting an election-oriented budget taking care of its political constituency - the middle classes and traders.

They say the government has failed to initiate schemes to rejuvenate the drought-affected economy and create new jobs.

Farmers down

Most major political parties including Prime Minister Vajpayee's Bharatiya Janata Party (BJP) have expressed unhappiness over the increase in fertiliser prices.

I am a farmer's son. Making air-conditioners cheaper is not much use to me Young farmer in Bihar

Though party President Venkaiah Naidu described the budget as "growth-oriented, progressive and people-friendly", he said "an increase in (Urea) prices would not fulfil the aspirations of farmers" .

One of the partners of the BJP, the Telugu Desam Party, too echoed its concern for farmers.

"The farmers are already going through hard times because of the drought. Increases in fertiliser price will make it more difficult for them," said TDP MP Yerra Naidu.

"The budget is decisively against the working class and the farmers" said senior Congress party leader Priyaranjan Das Munshi.

The Marxist Communist party leader Somnath Chatterjee accused the government of failing to "take heed of the problems such as unemployment confronting the economy".

"The government has failed to assist the sugar and edible oil industry reeling under a glut. At this rate, people will have to pay 200% more for sugar and edible oil," said Nationalist Congress party leader Sharad Pawar.

Angry comments

There was general enthusiasm among the Information Technology professionals in one of India's IT hubs, Hyderabad.

Farmers are said to have suffered the most

"It is a very positive budget for the IT industry. Tax rebates and customs duty on computers and related equipment have been continued," said Sanjay Jasrani, financial analyst with software firm Sierra Atlantic.

But the mood was grim in Bihar, one of India's poorest states, and among the working classes in general.

"What is in there for poor people like me? Foreign wine and cars have become cheaper. Diesel which is used by farmers has become more expensive. It is the poor man who will continue to suffer", a farm labourer said.

"I am a farmer's son. Making air-conditioners cheaper is not much use to me. Where do we go from here?", asked an angry young man in state capital Patna.

'Gamble'

"The budget has just been presented but the government keeps raising prices of diesel several times a year. The price of a cooking gas cylinder has risen more than three times from Rs 85 to 250," said Rajesh Singhal, a government employee in Delhi.

"It is the ordinary citizen who has to bear the brunt of everything."

The most encouraging words for Finance Minister Jaswant Singh came from the captains of business and industry.

"This budget is a class act... It balances economic and political needs; creates an environment for entrepreneurial growth, and is sensible as it goes forward on tax reforms", said Tarun Das, Director General of the Confederation of Indian Industry.

Some analysts, however, said the budget needed measures to improve fiscal discipline.