Government keen on SEZ
The Government has set ‘strict’ timelines for clearance of various Special Economic Zones (SEZs) related activities by the development commissioners (DC) of the zones. This has been done to ensure smooth functioning of SEZs and facilitating ease of doing business, an official release said.
The development commissioners will be allowed 15 days to examine proposals for setting up of SEZs, including site inspection of land, and sending it to the Commerce Ministry for approval. For examination of proposals for change of sector, a week’s time will be allowed.
A week will also be allowed for examination of proposals for extension of Letter of Approval up to fourth year, execution of lease deed and in-principle exit orders. Issuance of Form-I for CST exemption has to be done within five days. This will work as a catalyst in providing good governance in the SEZs as stated in the statement.
The works of the SEZ was to enhance the development. Although some work has started in the already running Special Economic Zone few still need some start up probably this would take some more time and by the end of this fiscal.
Source: Hindu Business Line
