West Bengal to repeal SEZ Act
West Bengal Govt will repeal the Special Economic Zone (SEZ) Act, 2003.
Why the SEZ Act is being opposed by the Trinamool Congress in West Bengal?
- Though the SEZ Act, 2003 was passed to facilitate development, operation, maintenance, management, administration and the regulation of SEZs in West Bengal, but the Act is opposed by the Trinamool Congress (TMC), for its alleged exploitative nature for workers.
What repeal of the Act would mean for existing and future SEZ units in the State?
- After the Act is repealed, the state government would introduce a fresh set of incentives, keeping the IT sector in focus.
- While this step would not be problematic for existing SEZ units in the state, it points to the government’s stand to not support SEZs.
- Apprehensions are that as a result of this, Infosys and Wipro would be most adversely affected by this move.
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Month: Current Affairs - May, 2012