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The Confederation of All India Traders (CAIT) on Monday termed the Union Budget 2021 as a "progressive and comprehensive document".

"The Union Budget is a progressive and comprehensive document that ensures the structured development of every sector of the economy. It also brings relief to senior citizens from the burden of paying taxes. Also, developing the health sector and strengthening its services are its specialty," the CAIT said.

According to CAIT, no new tax has been imposed in the Budget, which makes it even more effective. Although there was speculation about fresh taxation since the last fortnight across the country, which has stopped now.

However, CAIT's National General Secretary Praveen Khandelwal does not agree with the Finance Minister over GST. "We disagree with the Finance Minister that GST has been rationalised, whereas on the contrary GST has become a highly complex tax system and does not have much to offer to small traders."