What are the guidelines for Notifying the Special Economic Zone under section 5 of Special Economic Zone Act 2005 ?

CS Executive · Economic, Commercial and Intellectual Property Laws · PYQS · December 2024
What are the guidelines for Notifying the Special Economic Zone under section 5 of Special Economic Zone Act 2005 ?

Answer & Explanation:

Section 5 of the Special Economic Zone Act, 2005 stipulates broader guidelines to be considered by the Central Government, while notifying any area as a Special Economic Zone or an area to be included in the SEZ and in discharging its functions under the Act. These include: generation of additional economic activity; promotion of exports of goods and services; promotion of investment from domestic and foreign sources; creation of employment opportunities; development of infrastructure facilities; and maintenance of sovereignty and integrity of India, the security of the State and friendly relations with foreign States.

Topics: Special Economic Zone Act, 2005

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