398 SEZs yet to start operations: Minister

Tags: IT
As many as 398 special economic zones (SEZs) have not yet started operations despite getting necessary approvals, Commerce and Industry Minister Nirmala Sitharaman told Rajya Sabha today.

Replying to supplementaries during Question Hour, she said setting up of SEZs is a long term process and time for completion of project depends on several issues.

"The reasons for not being able to operationalise the SEZs include changed fiscal incentive regime for SEZs, difficulty in achieving contiguity of land, global recession, delay in approvals from statutory/state government bodies and delay in environment clearance etc," she said.

She said SEZ is cancelled/de-notified subject to payment of all applicable duties and tax benefits availed by the developer and receipt of no-objection certificate (NOC) from the concerned state government.

"The loss is more in terms of lost opportunity in creation of additional economic activities, generation of jobs and their contribution to exports," she said.

Sitharaman said the government reviews functioning of SEZs as an on-going process.

"Government periodically takes necessary measures so as to facilitate speedy and effective implementation of SEZ scheme," she added.

EDITORIAL OF THE DAY

  • It doesn’t help if rules paint non-agro & agro commodities with the same brush

    For many years, successive governments have tried to develop commodity markets in India, but have failed to bring in transparency and have been unable

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Disequilibrium: The cleansing & the yearning

As Twitter trolls went about their ugly business against Zaira ...

Rajgopal Nidamboor

Of body, brain and placebo effect

While most theories on human nature were based on conscious ...

Kuruvilla Pandikattu

Bias and prejudice exist in science too

Religion has caused a lot of harm to humanity. ...