ENA Economy 2022-02-01 10:23:28 <p><strong>New Delhi, Feb 1 (KNN)</strong> As per the budget announcement made by the Finance Minister Nirmala Sitharaman the development of enterprises and hubs, SEZ (Special Economic Zones) Act is proposed to be replaced with new legislation. </p> <p>It will enhance competitiveness of exports as it will cover the existing industrial enclaves, she said. </p> <p>Earlier in January it was reported that the government is planning to formulate a new SEZ Act for robust growth enabling businesses to sell goods in the domestic market at low duties, easier exit for loss-making units and units to be able to accept payment in Indian currency.</p> 28242 https://knnindia.co.in/news/newsdetails/economy/union-budget-2022-new-legislation-to-replace-sez-act 2022-02-01 10:23:28 knnindia.co.in