How to read Budget 2014: Full text with analysis

Finance Minister Arun Jaitley presented the first budget of the Modi government.

The budget in the finance minister’s own words, should be seen as a statement of intent and directional change. “A roadmap budget” as he described it in an interview with Lok Sabha television.

Firstpost editor R Jagannathan in his analysis of the budget, said Jaitley has taken a gamble: he has gambled that he will boost growth to reduce his fiscal deficit, and not immediately cut expenditures it to bring finances in order.

Here is a look at how you should view the budget, with notes and annotations. (Click on the yellow markers for analysis and comments)