I'm going to India!

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For the past year, I've been contemplating where I want to take my next big trip to and finally narrowed it down to visiting several South American countries (specifically Brazil, Argentina, Peru and Chile) or India. My parents do not get my desire to travel at all, and consequently worry about me excessively when I'm away. So mom made me promise that I would find someone to accompany me on both trips. My friend Ray has committed to South America, and as someone who speaks fluent Spanish and rudimentary Portuguese (my Spanish is alright, but my Portuguese is, erm, non-existent?), would be a fantastic person to accompany me, but he's in school and can't afford the trip until early 2011. So last night I was talking to an American girl I met and befriended in Florence, and we were discussing future travel plans. When I brought up my desire to see India, I couldn't believe how enthusiastic she was. Finally! After a year of asking every person I knew with a case of wander-lust about coming to India, someone was just as stoked to see it as me. We've decided that within the year we're going to book our flights, and now I have a worthy goal to put my money towards. Does anyone who has traveled to India have any suggestions, advice, recommendations, et al? How about a rough budget? I know the Canadian Dollar is worth roughly 44 rupees, but what would 44 rupees buy you? And I know there are MANY people here who are from India, who could give me an insider's view into your extraordinary country. We're both very adventurous, pretty bold, experienced travellers who don't mind roughing it at all to get the most authentic feel for where we are, so anything you feel is worthwhile is worthwhile mentioning.