ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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nationalism
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technopoles
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least cost theory
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special economic zone
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Detailed explanation-1: -What Is a Special Economic Zone (SEZ)? A special economic zone (SEZ) is an area in a country that is subject to different economic regulations than other regions within the same country. The SEZ economic regulations tend to be conducive to-and attract-foreign direct investment (FDI).
Detailed explanation-2: -A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country’s national borders. Their aims include increased trade balance, employment, increased investment, job creation and effective administration.
Detailed explanation-3: -100% Income Tax exemption on export income for SEZ units under Section 10AA of the Income Tax Act for first 5 years, 50% for next 5 years thereafter and 50% of the ploughed back export profit for next 5 years.
Detailed explanation-4: -Establishing Special Economic Zones (SEZs)
Detailed explanation-5: -The government has set up Special Economic Zones with best facilities of electricity, water etc. Companies who set up their units in SEZs don’t need to pay taxes for the first five years. More items