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Government fixes time limit for disposal of SEZ related activities.


Date: 14-08-2014
Subject: Government fixes time limit for disposal of SEZ related activities
NEW DELHI: The government has set timelines related to special economic zones as part of a wider plan to make it easier to conduct business in the country. In this regard, it has specified timelines for disposal of work—from "examination of proposal for setting up of an SEZ" to "in-principle exit order". The move is likely to expedite setting up of SEZs and also provide an easier exit route.

India ranks 134 out of 189 countries in the World Bank's 'ease of doing business' list. Of the 389 notified SEZs in the country, only 192 are currently operational.

"To ensure smooth functioning of SEZs, and facilitating ease of doing business in SEZs ...government has prescribed a time limit for disposal of various activities related to SEZ developers/units by the DC offices," the commerce department said in a statement.

Source : economictimes.indiatimes.com

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