398 SEZs non-operational even after approval: Commerce Minister
Updated: Jul 23, 2014 02:31:24pm
New Delhi, Jul 23 (KNN) For various reasons, 398 special economic zones (SEZs) could not start their operations even though they got government clearances.
“As many as 398 SEZs have not yet started operations despite getting necessary approvals, Commerce and Industry Minister Nirmala Sitharaman informed Rajya Sabha today.
"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 in her reply to supplementaries during Question Hour.
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.
"Government periodically takes necessary measures so as to facilitate speedy and effective implementation of SEZ scheme," she added. (KNN/SD)
“As many as 398 SEZs have not yet started operations despite getting necessary approvals, Commerce and Industry Minister Nirmala Sitharaman informed Rajya Sabha today.
"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 in her reply to supplementaries during Question Hour.
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.
"Government periodically takes necessary measures so as to facilitate speedy and effective implementation of SEZ scheme," she added. (KNN/SD)
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