Who can establish the Special Economic Zone? Discuss.

CS Executive · Economic, Business and Commercial Laws · PYQS · December 2018
Who can establish the Special Economic Zone? Discuss.

Answer & Explanation:

As per Section 3 of the Special Economic Zones Act, 2005, Central Government, State Government, or any other person, jointly or severally, may establish a Special Economic Zone. Any person who intends to set up a Special Economic Zone, may, after identifying the area, make a proposal to the State Government concerned for the purposes of setting up a Special Economic Zone. It also allows a person, at his option, to make a proposal directly to the Board for the purpose of setting up Special Economic Zone. In case a State Government intends to set up the Special Economic Zone, it may after identifying the area, forward the proposal directly to the Board of Approval for setting up of Special Economic Zone. However, the Central Government has been empowered to set up and notify the Special Economic Zone without consulting the State Government concerned; without referring the proposal to the Board.

Topics: Special Economic Zones Act, 2005

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