- Statement 1: The main objectives of establishing Special Economic Zones (SEZs) include promoting exports, attracting investment, generating employment, boosting economic activity, and developing infrastructure. This statement accurately reflects these core objectives. - Statement 2: While SEZs are treated as foreign territory for customs and trade operations and enjoy certain relaxations in laws like labor laws (subject to state rules), it is incorrect to say that ALL laws of India are not applicable. Laws concerning national security, law and order, environmental protection, etc., continue to apply. The SEZ Act provides a framework for specific exemptions and relaxations, but does not make SEZs completely independent legal territories. - Statement 3: Units within an SEZ can be established for various activities including manufacturing of goods, trading activities, or providing services. This is a key feature allowing diversification of businesses within SEZs.
Evaluate the statements 1. The main objectives of the SEZ Scheme is generation of additional economic activity, promotion of exports of goods and services, promotion of investment from domestic and foreign sources, creation of employment opportunities along with the development of infrastructure facilities. 2. All laws of India are not applicable in SEZ as it is governed by its own law. 3. Units may be set up in the SEZ manufacturing, trading or for service activity. Select the correct answer code :
Asked in GPSC Prelims CSP 2 2024 · Topic: Industrial Sector (Industrial Infrastructure: Power, Logistics, and Special Economic Zones (SEZs))
More Economic Development questions
- Which of the following statements is correct about the sources of energy (power) in India?
- The Kudankulam nuclear power plant in Tamil Nadu is built in collaboration with
- As per NITI Aayog, which percentage of the total electricity is consumed by residential and commercial sectors in India ?
- Which of the following statement(s) is/are incorrect regarding Special Economic Zones (SEZs) in India? 1. The SEZs Act was passed by Parliament in 2004 2. The SEZs Act envisages key role for the State Governments in Export Promotion and creation of related infrastructure 3. The SEZ rules provide for different minimum land requirement for different class of SEZs. 4. SEZ rules provide for single window clearance for setting up of an SEZ
- Which state/UT has the largest number of working SEZs in India?
- Ranjangaon, where the greenfield Electronics Manufacturing Cluster (EMC) is to be set up, is in which state?
- The policy for Special Economic Zone (SEZ) was introduced in the country for the first time in
- - The concept of Special Economic Zones (SEZs) was introduced in India in the Foreign Trade Policy announced in April 2000, building upon the EPZ model but with a broader scope and more liberal regulations. - The SEZ Act was enacted in 2005 to provide a stable legal framework for the SEZ policy, which came into effect in February 2006. 95. Which of the following atomic power plants has largest installed capacity?