Pune: Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA) has welcomed the Union Budget 2021-22 presented by Finance Minister Nirmala Sitaraman on Monday (February 1). MCCIA President Sudhir Mehta said that India is moving towards a stable tax regime.

Mehta said, “In the last four years we have seen major announcements in a series of mini budgets. The government has not tinkered in a lot of things which is a good thing to happen. No changes in tax slabs, GST and customs indicate that India is moving towards a stable tax regime. We are now looking at post-COVID world with huge funds allocation for COVID vaccination already in place.”

“Finance Minister has taken a path that will sustain more fiscal deficit. Government has decided to carry out funding, more into capital expenditure, is a strong positive move taken by the government. Hopefully it will not increase the inflation,” Mehta said.

Mehta also added that if the spending on infrastructure as promised by the government does actually happen then it will ramp up the economy and will increase employment too.