Group to study SEZ Policy

Question- Recently, the central government constituted a group of eminent persons under whose chairmanship to study the Special Economic Zone (SEZ) policy?
(a) Neel Raheja
(b) Rabindra Sannardi
(c) Baba Kalyani under Act, 2005 passed by Parliament in May, 2005.
(d) Shrikant Badiga
Answer: (c)
Related Facts:

  • On June 6th, 2018 Government of India has constituted a group of eminent persons to study the Special Economic Zones (SEZ) Policy of India.
  • The group headed by Baba Kalyani, has Ravindra Sannareddy, MD, Sricity SEZ Ltd, Neel Raheja, Group president K Raheja Group, Arun Misra, MD, Tata Steel SEZ Ltd, Anita Arjundas, MD, Mahindra Life Space Developer, Ajay Pandey, MD and Group CEO, GIFT City SEZ ltd, Srikanth Badiga, director, Hyderabad Phoenix Developer, principal secretaries (industries) of Gujarat, Maharashtra, Telangana, Andhra Pradesh, Tamil Nadu and Karnataka as members while additional secretary (in-charge of SEZ division, department of commerce) will be member secretary, and the director of SEZ, Department of Commerce, will be the coordinating officer.
  • The SEZ Policy was implemented from 01st April, 2000.
  • Subsequently the Special Economic Zones Act, 2005 was passed by Parliament in May, 2005 and received Presidential assent on the 23rd of June, 2005 and the Special Economic Zone Act was enacted.
  • The SEZ Act, 2005, supported by SEZ Rules, came into effect on 10th February, 2006.
  • The group will evaluate the SEZ policy, suggest measures to cater to the needs of exporters in the present economic scenario and make the SEZ policy WTO compatible, suggest course correction in SEZ policy, make comparative analysis of the SEZ scheme and dovetail the SEZ policy with other similar schemes.
  • The Group is required to submit its recommendation in 3 Months’ time.
  • This group will do the following:
  • will study the policy SEZ.
  • will give suggestions as per the needs of exporters in the current economic scenario.
  • will make the SEZ policy to WTO.
  • Will Comparative analysis of SEZ schemes and suggestions will be made to make the SEZ policy consistent with other similar schemes.
  • This group will give its recommendation in three months.

Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=179793

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