SEZ Bill

Why in news?
  • The Lok Sabha on passed the Special Economic Zones (Amendment) Bill, 2019.
More in news
  • The amendments will make a trust or any entity which is notified by the Central government eligible for consideration of grant of permission to set up a unit in special economic zones and also
  • aAlternative investment funds trust will be included under the definition of persons.
Governments Version
  • The changes are aimed at improving and encouraging investments and introducing features including single-window clearance and to ease imports and exports.
  • It will also help keeping in pace with evolving business environment
Why the Opposition
  • The bill is to replace the ordinance and the manner in which the bill has been brought in has been opposed.
  • As per rule, an ordinance can be promulgated only when the President deems it necessary in emergency situations and when issues of extreme urgency arise and when it’s not possible to wait for Parliament to convene.
  • The urgency is what is been questioned by the opposition parties
  • Under the previous Act many of the trust owned by minorities had been shut down and in such circumstances the concern over Govts hidden agenda of favour a selected few has also been raised. 
Source
The Hindu
Posted by Jawwad Kazi on 27th Jun 2019
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