The Union Minister for Parliamentary affairs, V Narayanaswamy said on monday that the union budget that was presented last week was a balanced one in all respects. He was addressing the special budget session organized by Southern India Regional Council of the Institute of Chartered Accountants of India (ICAI) in the city. The minister also added that the hike in the fuel prices was merely a reflection of teh international prices. He expressed confidence that the trouble that errupted in this account will eventually settle down.