New Delhi: Around 398 special economic zone (SEZs) are yet to commence operations regardless of necessary approvals in place, states Nirmala Sitharaman, Commerce and Industry Minister during the Question Hour in Rajya Sabha today.
According to her, setting up of SEZs is a long-term process and time for completion of project depends on several issues. Highlighting the major bottlenecks, Sitharaman says, “The reasons for not being able to operationalise the SEZs include changed fiscal incentive regime for SEZs, difficulty in achieving contiguity of land, global recession, delay in approvals from statutory/state government bodies and delay in environment clearance etc.”
She further states that the government periodically takes necessary measures so as to facilitate speedy and effective implementation of SEZ scheme. “The government reviews functioning of SEZs as an on-going process.”
EPC World News Bureau
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