Indian industry today welcomed the Union Budget for 2010-11 saying it was a balanced approach though it expressed disappointment over the hike in minimum alternate tax (MAT) from 15-18%.The  captains of the industry lauded the concessions given to the individual and corporate tax payers, saying Mukherjee had done a "good" job. "The finance minister has done a good in balancing job... He has been able to contain the fiscal deficit at 6.9%, which is very good," said Harshpati Singhania, President of apex chamber Ficci."However, there is a big surprise and disappointment on MAT. Decrease in surcharge would be eaten by increase in the MAT rate," Singhania added. Confederation of Indian Industry (CII) president Venu Srinivasan said: "It is a very balanced and responsible budget. The growth will continue with this Budget. The changes in Income Tax slabs are a welcome step." He also complimented the finance minister for calibrated roll back of stimulus measures, which is what the industry was looking forward to. "The only dark spot is increase in MAT."  

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