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Tuesday, Aug 20, 2019

SEZ Amendment bill cleared in Lok Sabha

The Bill allows trust or any entity notified by the central government to be eligible to set up a unit in SEZs.

india Updated: Jun 27, 2019 01:21 IST
HT Correspondent
HT Correspondent
Hindustan Times, New Delhi
Defending the bill, Union commerce minister Piyush Goyal said international investors wanted a stable and predictable policy to bring investments. (ANI Photo)
Defending the bill, Union commerce minister Piyush Goyal said international investors wanted a stable and predictable policy to bring investments. (ANI Photo)
         

The Lok Sabha cleared the Special Economic Zones (Amendment) Bill, 2019 on Wednesday, replacing an ordinance on the same issue.

Defending the bill, Union commerce minister Piyush Goyal said international investors wanted a stable and predictable policy to bring investments. He accused the Congress-led United Progressive Alliance government, which ruled between 2004 and 2014, of changing SEZ policy, resulting in confusion among investors.

Congress floor leader Adhir Chowdhury posed a number of questions to the government on the bill. “Why has the SEZ been a success story in China whereas we have failed to achieve the desired results? SEZ has become an engine of manufacturing in China. May I know how many SEZs which were proposed are still non-functional? What is the number of functional and non-functional SEZs and how many are lying vacant?

Furthermore, how many people are being employed in our SEZ infrastructure and what is their total turnover of SEZs? Do you have any comparative statement between 2014 and 2019? What is the growth of employment in the SEZ sector?” Chowdhury asked Goyal.

In response, Goyal said that if the SEZ had not been able to bring the desired results, “then 100% blame should go to the Congress.”

The Bill allows trust or any entity notified by the central government to be eligible to set up a unit in SEZs.

First Published: Jun 27, 2019 01:21 IST

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