I watched this movie because a friend of mine dragged me to the theater, to test if I could avoid feeling myself involved with a bicycle race that was a major part of the movie. (Now, speaking of that incident after a decade, I should perhaps replace the "watched" with "had watched", or rather, "had first watched", because later I watched this movie a few more times.)
This is a very cute (I could not find another equally suitable adjective) movie that realistically depicts the life of small-town kids who belong to homes with limited means. It's a story of their pretensions and frustrations, their wish to be part of the richer folk, that of affectionate families, and of budding puppy-love. Due to very good performance by every artiste, this movie -- with a quite simple storyline -- is capable of making everyone feel part of the movie.
While watching it, one is bound to get unintentionally involved with the bike race in the movie. Every heart feels warmth for Ayesha Jhulka, and everyone gets angry at Amir Khan for ignoring Ayesha's innocent and true affection. The impact of this movie could be overwhelming if one is in one's late teen or early youth.
The music score was good, though I now know that the famous "Pehla Nasha" was lifted (I fail to recollect which was the original tune!).
It's a very enjoyable movie, and I can not think of a reason as to why anyone should dislike it!
Note: Now I found a reason why someone may dislike it: its story is taken from "Breaking Away".