Special Economic Zones (SEZs) are specifically designated areas in a country with special economic regulations that differ from the rest of the country. They are designed to promote trade, investment, job creation, and effective administration. SEZs are typically supported by quality infrastructure and often include attractive fiscal packages, such as tax incentives, customs duty exemptions, and streamlined procedures, to attract domestic and foreign businesses.
Areas which are engines for economic growth supported by quality infrastructure and complemented by an attractive fiscal package are known as
Asked in UPSC NDA 1 2016 · Topic: Industrial Sector (Industrial Infrastructure: Power, Logistics, and Special Economic Zones (SEZs))
More Economic Development questions
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