Ummid Assistant

IDB scholarship forms available at Bhopal's Companion School

IGNOU's preparatory course for students desiring higher education

Welcome Guest! You are here: Home Business & Economy

Revised SEZ policy in 3-4 weeks: Commerce secretary

Thursday July 26, 2012 05:54:45 PM, IANS

Kolkata: The government hopes to come out with new guidelines to revive Special Economic Zones (SEZs) in three to four weeks, Commerce Secretary S.R. Rao said Thursday.

"We are now trying to harmonise the current (SEZ) policy and rules that have not served the purpose and trying to remove irritants to investors," Rao told reporters here.

"And (we are) also trying to bring in some more rules where government finds that the revenue sources are leaking. So we are trying to broadbase all these things, remove transaction cost both for the government and the investors," he said.

The initial phase of the SEZ scheme, launched in 2006, saw developers coming out in huge numbers for projects. But after the imposition of Minimum Alternative Tax and Dividend Distribution Tax on SEZs in 2010-11, investors started losing interest as tax incentives were the major attraction for setting up of these enclaves.

To boost investors' confidence, the commerce ministry plans to provide incentives for developers who want to set up SEZs in remote and undeveloped areas. It has proposed to relax minimum land area requirement for different categories of SEZs, besides extending to the units the benefits of export schemes already available to entities outside the zone.

Asked when the government would come out with new norms and revise the existing policy, the commerce secretary said: "In another three to four weeks hopefully."

 





 





 

Home | Top of the Page

Comments

Note: By posting your comments here you agree to the terms and conditions of www.ummid.com

Comments powered by DISQUS

i

i

 

More Headlines

Modi's 'hang me' remark reprehensible, says minister

Slain Kashmir youth was militant, reiterates army

65 years on, these refugees still stateless in Jammu and Kashmir

Beware: Fresh look of vegetables could be due to hazardous chemicals

Latin America beckons: India must seize the moment

Pulses, edible oils may be subsidised to reduce prices: Food Minister

Miffed Azam Khan offers to quit UP cabinet

Indian wins Ramon Magasaysay Award

Indian scientist Javed redoes Einstein's special theory of relativity

Ban construction at excavated site, ASI tells court

Right to Service becomes law in Kerala

Eco-friendly stove a boon for rural women

Team Anna begins indefinite fast for a stringent Lokpal

 

Top Stories

Tradition meets pomp as Pranab sworn in president

India Wednesday got its 13th president in seasoned politician Pranab Mukherjee in a function replete with traditional grandeur and ceremony. The country's first citizen swore 

Pranab's swearing-in went like clockwork

Role and power of India's president

 

  Most Read

Miffed Azam Khan offers to quit UP cabinet

Miffed at his powers being curtailed, senior Uttar Pradesh minister Azam Khan has sent a terse letter to Chief Minister Akhilesh Yadav offering to quit the cabinet, leaving the four-month Samajwadi Party (SP)  

Pulses, edible oils may be subsidised to reduce prices: Food Minister

Concerned that lower production of pulses and oilseeds due to a deficient monsoon could hike their prices, the government is planning to sell these two consumer items through the public distribution system (PDS) that caters to a third of India's 1.12 billion population to provide relief to this vulnerable section 

 

  News Pick

Slain Kashmir youth was militant, reiterates army

The young man killed in a Kashmir village two days ago was a militant from whom a weapon was recovered, a senior army officer  

Protests in Kashmir over youth's killing

Indian scientist Javed redoes Einstein's special theory of relativity

Khilji revealed that he was taken aback to notice as to how an stationary object can be said to be moving with real velocity no matter what the  

Right to Service becomes law in Kerala

With the Kerala assembly Wednesday passing the Right to Service Bill, 2012, Chief Minister Oommen Chandy has kept his promise of making available services to the people within a specified time.Thirteen specified  

Team Anna begins indefinite fast for a stringent Lokpal

Team Anna members Wednesday began their indefinite fast at Jantar Mantar in the capital in support of a stringent Jan Lokpal bill and demanding  

 

Picture of the Day

President Pranab Mukherjee inspecting the Guard of Honour after the swearing-in ceremony, in New Delhi on July 25, 2012.

 

 
 
 
 
 
 
 
 

RSS  |  Contact us

 

| Quick links

News

 

Subscribe to

Ummid Assistant

 

National

Science & Technology

RSS

Scholarships

About us

International

Health

Twitter

Government Schemes

Feedback

Regional

History

Facebook

Education

Register

Politics

Opinion

Newsletter

Contact us

Business

Career

Education

     

 

 

Ummid.com: Disclaimer | Terms of Use | Advertise with us | Link Exchange

Ummid.com is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

2012 Awaz Multimedia & Publications. All rights reserved.