Devendra Surana, President, FAPCCI

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Devendra Surana, President, FAPCCI, Impact of Budgetary Changes – Taxation of Services, KLN Auditorium, FAPCCI, Hyderabad, Andhra Pradesh. The major problem faced by the people in the country is Fiscal Deficit. Last year with 5.6% the GDP has ended. Last year, 25,000 crores were given as petroleum subsidy. It was ended with one Lakh twenty five thousand crores. In the current year there is 40,000 crores for the petroleum subsidy. The service tax (regime) in India has matured and the sector now contributes 5.9 per cent of the Gross Domestic Product. The industry is eager to see GST implemented at the earliest.

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