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India Budget 2008 was presented in Parliament by the Finance Minster, Mr P Chidambaram on February 29, 2008. At the outset, a perusal of the Finance Minister’s speech and the proposals of the Finance Bill, 2008, it emerges that as compared to the benefits given to the infrastructure sector in terms of reduction of duties of excise and customs, there has been a sizeable budgetary allocation of funds under the various developmental projects and social schemes of the Government. It appears that the Government has decided to fund more developmental projects and social scheme projects to spur the growth of certain specific sectors within infrastructure instead of giving fillip to these sectors by way of extending tax incentives.