Question

The government is firming up measures to revitalize the special economic zones (SEZs).Which of the following are correct about SEZ?

Choose your answer from the following codes:

• A. 1 and 2
• B. 1, 2 and 3
• C. 2 and 3
• D. None of the above

Answer 1

The correct option is A

1 and 2

A Special Economic Zone (SEZ) is a geographically bound zone where the economic laws relating to export and import are more liberal as compared to other parts of the country. The Special Economic Zones Act was passed by the Government of India in 2005.

The objectives of SEZs can be explained as:

1. Generation of additional economic activity;
2. Promotion of exports of goods and services;
3. Promotion of investment from domestic and foreign sources;
4. Creation of employment opportunities;
5. Development of infrastructure facilities.​