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FIEO seeks support for services sector
10
Jul '09
Mr Subhash Goyal, Convenor, Federation of Indian Export Organisations (FIEO) Committee on Services, while commenting on the Union Budget 2009, thanked the Government for providing relief to the exporters by way of exemption with respect of FBT, service tax for areas like goods transport services and commission to foreign agents, simplification of procedure for refund of service tax, etc.

He complemented the Government for increasing the MDA fund, giving extension of tax holidays for one more year to EOUs, STP, EHTP units and the continuation of interest submission scheme with inclusion of some more sectors.

Mr Goyal expressed his dissatisfaction on not providing additional support to the services sector including tourism which constitutes more than 55% of India's GDP. He felt that there was an urgent need for special attention to the tourism sector, in view of the 26/11 incidence, which had badly affected the tourism sector.

He further emphasized that the long pending demand of giving the tourism sector an industry status was still not considered. He mentioned that tourism and hospitality sectors not only earn crucial foreign exchange for India but also create demand and opportunity for other sectors through foreign tourists. The foreign tourists during their visit in India buy “Made in India” items like handicrafts, jewellery, garments, etc and help in popularizing these products in their respective countries.

He also suggested that concessional finance to project exporters, income tax benefit to the consultancy and other service providers, service tax exemption to service providers and tour operators, should have been considered.

Federation of Indian Export Organisations

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