Section 66A of India IT Act has gone! Personally I am very happy and even more hopeful for future of Indian democracy, and so are all other digital citizens of India. That's because Internet is THE TOOL for mass participation in 21st century. Be it a school, a company or a nation, the stakeholders will participate in day-to-day affairs primarily through Internet.
But professionally I have a serious advice for all youngsters... with the fear of law gone, you need to be doubly careful about what you post because the concept of 'Online Reputation' remains same. Your choice of words to criticize any person or organization may not be illegal but it can leave a very bad impression of you on the reader. And... in 21st century your online reputation travels far and wide across continents, it determines your career opportunities and it affects your personal relationships! Check out chapter 13 ("Create a Positive Online Reputation") of my book.