Reactions are coming thick and fast for the Union Budget. “No bad news is good news in this budget. There is no increase in service tax and Income tax. So that is a good news,” said Mr Vikas Khanvelkar, Managing Director, DesignTech Systems Ltd, a leading CAD/CAM/CAE/PLM Solutions, Additive Manufacturing technologies, and Engineering Services provider from India.

Reducing the corporate income tax to 25% for MSME having revenues up to Rs 50 crores will help MSME sector which is under challenging pressure to grow, feels Khanvelkar. “Increase in expenditure in infrastructure projects will boost growth and will create more employment which government is aiming to achieve,” he added.

Regarding the reduction in the IT slab from 10% to 5% for income up to Rs 5 lakh and simplifying the IT return form for them to one page, is a big relief, and encouraging digital and cheque payments and restriction on cash payments beyond Rs 3 lakh will help curb black money, he feels.

Finally, restricting the cash payments to political parties to only up to Rs 2000 will bring more transparency, concluded Khanvelkar.

DesignTech Systems, with more than 18 years of experience, has been working with companies from cross vertical domains in India and overseas to support clients in their most complex and challenging engineering initiatives while helping them derive best returns on their investments. The company is the only Platinum Partner for Siemens PLM Software in India, and has also forged strategic tie-ups with global leaders such as Altair Engineering for their HyperWorks suite of solutions, Stratasys 3D Printing Technology, ESI Casting and Welding Simulation software, MathWorks for MATLAB and SIMULINK, SLM Metal 3D Printing technology, and Solidscape high precision 3D Printing solutions.

DesignTech Systems is also the recipient of some of the prestigious awards such as Maharashtra Government IT award in 2010, has been adjudged among the top 50 emerging companies in India by NASCCOM in 2010 and many more. CRISIL has accorded DesignTech the rank - MSE 2 which stands for “High credit worthiness in relation to other MSEs”. Education and training wing of DesignTech Systems, “DesignTech CAD Academy” is an authorised training partner of Siemens and Altair for their PLM and CAE suites of solutions respectively, imparting training to the working professionals and students alike on the latest version of licensed software under the mentoring and supervision of certified trainers.