What is the criteria upon which the Central Government considers and notify any area as a Special Economic Zone (SEZ) under Special Economic Zones Act, 2005 ?
CS Executive · Economic and Commercial Laws · PYQS · June 2019
What is the criteria upon which the Central Government considers and notify any area as a Special Economic Zone (SEZ) under Special Economic Zones Act, 2005 ?
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: Special Economic Zones Act, 2005
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