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Government Schemes Current Affairs June 3rd Week 2019
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Category : Schemes
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Government Schemes Current Affairs June 3rd Week 2019

Lok Sabha Passed The Special Economic Zones (Amendment) Bill, 2019:

The Lok Sabha passed the Special Economic Zones (Amendment) Bill, 2019 on 26 June. The amendment of sub-section (v) of Section 2 of the SEZ Act, 2005 will make a trust or any entity notified by the Central government eligible for consideration of grant of permission to set up a unit in special economic zones. 

The Bill aims at improving and encouraging more investments and introducing features including single-window clearance and to ease imports and exports.

Ordinance:

The Bill will replace the ordinance promulgated in February 2019. The ordinance seeks to amend the definition of a person under the SEZ Act 2005, which will enable a trust to be considered for grant of permission to set up a unit.

 

Exports from SEZs rose 21% on year to Rs 7 lakh crore in FY19. As of March 31, there were 232 SEZs, of which 25 are multiproduct and the rest are sector specific, with 5,109 approved units.


 

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