Post Budget Reaction - Mr. Vikas Khanvelkar, Managing Director, DesignTech Systems Ltd.
1. 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.
2. Reducing the corporate income tax to 25 % for MSME having revenues upto Rs 50 Crores will help MSME sector which is under challenging pressure to grow.
3. Increase in expenditure in Infrastructure projects will boost growth and will create more employment which government is aiming to achieve.
4. Reducing the IT slab from 10 % to 5 % for income upto Rs 5 lacs and simplifying the IT return form for them to one page is a relief to those people.
5. Encouraging digital and cheque payments and restriction on cash payments beyond Rs 3 Lacs will help curb black money.
6. Restricting the cash payments to political parties to only upto Rs 2000 will bring more transparency.
DesignTech Systems Ltd. is a leading CAD / CAM / CAE / PLM Solutions, Additive Manufacturing technologies, and Engineering Services provider from India. With more than 18 years of experience they have 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.