Question Details

Which of the following statements is/are FALSE about the Special Economic Zones (SEZs) of India?
  1. One of the main objectives of the Zones Act was promotion of exports of goods and services.
  2. The Government of India announced the Special Economic Zones (SEZs) Policy in the year2011.
  3. The SEZ Rules provided for different minimum land requirement for different classes of SEZs.

Options

A

Only ii

B

Only ii and iii

C

Only i and ii

D

Only iii

Show Answer

Correct Answer :

Option A

Only ii

Solution :

The correct option is Only ii.


To determine which statements regarding the Special Economic Zones (SEZs) of India are FALSE, let us evaluate each statement individually:


Statement (i): "One of the main objectives of the Zones Act was promotion of exports of goods and services."

Analysis: This statement is TRUE. The Special Economic Zones Act, 2005, was enacted with primary objectives including the generation of additional economic activity, promotion of exports of goods and services, promotion of investment from domestic and foreign sources, creation of employment opportunities, and development of infrastructure facilities.


Statement (ii): "The Government of India announced the Special Economic Zones (SEZs) Policy in the year 2011."

Analysis: This statement is FALSE. The Special Economic Zones (SEZ) Policy was announced by the Government of India in April 2000 (not 2011) to overcome the shortcomings experienced on account of the multiplicity of controls and clearances, absence of world-class infrastructure, and an unstable fiscal regime.


Statement (iii): "The SEZ Rules provided for different minimum land requirement for different classes of SEZs."

Analysis: This statement is TRUE. The SEZ Rules, 2006, prescribed varying minimum area requirements based on the category/class of SEZ (for instance, multi-product SEZs, sector-specific SEZs, IT/ITeS SEZs, FTWZ, etc.).


Therefore, among the given statements, only statement (ii) is false.

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