" speacial economic Zones given to Private players " is good or bad decision taken by Govt?
for development it is given to Private players such as reliance,...etc
Answer:
There are different kinds of economic zones designated by state and local governments and most of them have similar goals.such as to revitalize a depressed area or to attract investments.
A county or city may designate a depressed area as an economic redevelopment zone and give incentive to investors in terms of tax break in order to attract badly needed private investment into that area.
The community with a large residential population but little employment opportunities may create a special economic zone with incentives to attract employers to relocate and or open a branch there. This way, job will be created and the government's tax base will also increase which in turn will reduce the need for more property taxes to pay for schools, fire/rescue, police,etc.
Cities like Miami may have a foreign free trade zone to encourage foreign companies to set up business there. These are just a few examples. If managed properly, it is a good idea.
It is a good decision by the Government. it will attract Foreign as well as Indian investment and generate employment and export for India.
Since the Government neither has the resources nor the right people; it had no option but to give to Private players.
If the same Project is developed by Government it may take double the time and in that case also they are outsourcing to outside Consultants.In case U want to refer to SEZ Act or Rules & other info and Notifications on SEZ; refer to www.allindiantaxes.com
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