Buzz on DESH Bill rethink triggers worry that the country’s economic development drive may not get the expected fillip soon
Inter-ministerial differences over the proposed legislation should be resolved quickly to ensure that India does not miss on the China-plus opportunity
It will overhaul the existing Special Economic Zone law of 2005, aiming to revive interest in SEZs and develop more inclusive economic hubs.
Budget 2022: Since 2005, the government has given formal approval under the SEZ Act, 2005, to 426 SEZs and in-principle clearance to 33 SEZs. But, as of September 30, only 268 units were operational across the country, employing 2.36 million people.
SEZs have emerged as major export hubs in the country as the government provides several incentives including tax benefits and single window clearance system
The tax foregone - customs duty and central excise duty including rebate - under the SEZ scheme was Rs 10,440 crore in 2013-14.
Amidst protests against land acquisition, the government today said it may relook at the land ceiling of 5,000 hectare for the Special Economic Zones (SEZs).
SEZs versus Finance Ministry over MAT. Payaswini Upadhyay gets you the unabbreviated version!
While SEZs have been left disappointed and many tax and legal experts maintain that the finance ministry cannot levy the tax on SEZs as such a move will lead to a slew of litigation. Ajay Nijhawan, convener of the SEZ Developers Panel discussed on CNBC-TV18 the effect the policy development was leaving behind.