BUDGET IN ALBANY IS POLITICAL PACT, NOT DETAILED PLAN
New York State's multi-billion dollar budget agreement, hammered out early this morning, would increase aid to New York City schools, scale back proposed cuts in medical care for the poor, raise cigarette taxes and keep the city's bus, subway and commuter railroad fares intact until 1995. The deal, announced just after the midnight deadline and described by everyone involved as a "handshake" agreement, leaves many details unresolved, including the total spending for the next fiscal year, which began today. But for political reasons, it was critically important, particularly for Gov. Mario M. Cuomo, to declare that at least the broad outline was in place by April 1. [ News analysis, page B4. ]