Question

What are SEZ'S ? Write about them in brief.

Answer 1

Hey ur ans..

A special economic zone ( SEZ) is an area in which business and trade laws are different from rest of the country. SEZs are located within a country's national borders, and their aims include: increased trade, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically regard investing, taxation, trading, quotas, customs and labour regulations . Additionally, companies may be offered tax holidays, where upon establishing in a zone they are granted a period of lower texation

Answer 2

1.)SEZ stands for special economic zones.
2.)they have world class facilities like electricity, water, roads,etc.
3.)companies that set up production unit in SEZ's do not have to pay tax to the government in its initial stages of five years.
4.)gov has also allwed flexibility in labour laws to attract foreign investments. the companies set up in SEZ have to obey the rules of workers rights.
5.)instead of hiring people on regular basis thses companies hire workers when thers is season for the particular product manufactured in that company.