Industrial Automation Magazine India

A strong push to grow manufacturing sector and create job opportunities

Published on : Tuesday 02-02-2021

-Vikas Khanvelkar, MD, DesignTech Systems reacts to the Union Budget 2021

February 1, 2021 – This year budget is presented during unprecedented time as mentioned by the Hon Finance Minister Nirmala Sitharaman. As expected it aims to give a boost to economy by increasing expenditure in many sectors. Hence Fiscal deficit of 6.8% looks difficult but it is achievable through ambitious divestment program announced in the budget.

Focus on health by providing Rs.64000 Crores for “Swastha Bharat” is a good move. Provision of Rs.35000 Crores for vaccination is also a very good step.

On the industrial front, extending the already announced Production Linked Incentive Scheme for electronics sector to 13 more additional sectors by providing Rs 1.97 lakh crore over 5 years is a really welcome and great move to support ‘Atma Nirbhar Bharat’ initiative to increase domestic manufacturing. This will give a strong push to grow manufacturing sector and create job opportunities. Mitra scheme for creating world class companies in Textile field will help grow textile exports.

Voluntary vehicles scrapping scheme is also very good for automotive sector which was long awaited.

Overall I feel the budget is in the right direction to get our economy back on track to take India to 5 trillion economy.

DesignTech Systems is a leading CAD/CAM/CAE, PLM solutions, Additive Manufacturing technologies and Engineering Services provider from India. Having worked closely with companies from cross vertical domains from India and Overseas since 1998, DesignTech supplies technologies and Services at every stage of Product lifecycle. DesignTech Education is an education and training division of DesignTech focussed on providing skill based and also industry specific trainings on electro-mechanical technologies to students through their Centres of Excellence. DesignTech CAD Academy is a part of DesignTech Education division dedicated for imparting applications based trainings to students and industry professionals alike on CAD and PLM software to help them upgrade their skills and gain proficiency over the advanced product design software solutions. Catering to wide industry sectors such as Automotive, Aerospace and Defense, Industrial Machinery, Heavy Engineering, Consumer Goods and Electronics to Power and Energy, DesignTech is well equipped to make significant contributions and value additions in the engineering initiatives of the companies. Committed to providing seamless customer service and creating customer delight, DesignTech can make for an ideal Technology, Services and Training Partner for the corporates and industries.