How do SEZs improve economy and benefit barren tracts of land?
SEZs are a Central government scheme concerned with improving exports, and the states where they are located get the benefits of increased employment opportunity, development of secondary economic activities and vendors in nearby areas, making it possible to develop undeveloped areas with public-private partnerships. What guidelines are specified for establishing SEZs? All guidelines and rules in the SEZ Act 2005, SEZ Rules 2006, various state Acts and rules as applicable for establishing SEZs are followed. These mainly include rules related to employment generation, foreign exchange earning potential, new economic activity, job creation, welfare of employees and estate development guidelines. For development, the local town planning and MIDC guidelines also come into effect. How significant is the role played by SEZs in boosting exports? SEZs play a very important role in boosting export economy of the country. There is almost 200 per cent increase in export from SEZs after the Act ca
