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14 more SEZ’s got Government approvals

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As per the sources available to www.propertykhazana.com, BOA beneath the association of Union Commerce Minister Kamal Nath had agreed 14 new plans to place SEZ’s. With this, the entire SEZs which were agreed by Union Govt. had gone to 164. The e-GOM which was headed by Defence Minister Pranab Mukherjee had raised the cap by permitting SEZ’s which was set earlier at 150. The board had set a rider on new agreements and it was reported that confrontation of Union Finance Minister P. Chidambaram mentioning income implications the e-GOM had decided not to go forward with new gears before 75 zones get off on the ground. The board had decided to take a look on the policy rules within 5-6 months before permitting the Commerce Ministry to endorse new plans for SEZs. Kamal Nath also said, “Thinking the top on number of SEZs was raised and new endorsements has to wait till 75 zones get off on the ground. Finance Ministry officer who had asked for anonymity said that, “So far, Secretary headed BOA in the Commerce Ministry Gopal Pillai had cleared 14 new plans.”
Source also revealed that, “There are no such kind of provision for endorsing new cases” said S.N. Menon Secretary of Commerce and referring to protest lifted by the Finance Ministry, Gopal Pillai said that, “Apprehension above the income loss are absent since from the increase economic activity and will be more than to make up the Tax inducements.” New cases permitted by BOA will comprise a SEZ to be endorsed by MADCL by covering 2086 hectares at Nagpur. Also DLF was permitted to construct IT-based zones in Gurgaon and Hyderabad as realty player Parsvnath Developers will build up IT zones at Dehradun and in Indore. Wellspun Group will endorse a specialized textile zone in Gujarat.
Source: NIMMA BENGALURU

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