Explain the Guidelines for notifying Special Economic Zone.

CS Executive · Economic, Business and Commercial Laws · PYQS · June 2022
Explain the Guidelines for notifying Special Economic Zone.

Answer & Explanation:

Section 5 of the Special Economic Zones 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: Economic Laws

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