Authors : Bankar V.A.
Page Nos : 75-77
Description :
In the era of
globalization to compete in the global market, the Government of India (G
O
I) has
planned to set up SEZ with liberalized export policies, licensing of technology and tax reforms providing
various incentives.
A Special Economic Zone (SEZ) is a geographical r
egion that has economic laws that
are more liberal than a country's typical economic laws. Usually the goal is to increase the foreign
investment.
This paper describes about how effectively SEZ
helped in the development of infrastructure,
employment to peop
le, increase in exports, earning foreign currency etc.
In India SEZ’s main purpose was
to develop the underdeveloped regions of India. But
the land for SEZ utilised from rural areas. So, there is
snatching of cultivated land or buying land at much discounte
d rates from farmers or poor people and
then selling it to corporates at exorbitant prices.
So ultimately one side there is profit & revenue
generation from SEZ but other side it
leads to loss of revenue for the govt.
