They’re the biggest loss makers
Even the duty freedom was not given once but twice – once on the inputs used and again on the finished products from the SEZs. The duty foregone on the inputs are irrecoverable as there is no provision of paying back.
It’s quite cleat that SEZs [that are framed on half-backed logic and parameters] will do more harm than good. The latest report by CAG makes it important to re-think on the modus operandi of SEZ. It’s important to think on SEZ with respect to revenue losses and tax holidays. The current discussion of impact of SEZ on agriculture has actually overshadowed the matter of revenue loss by SEZ. The CAG’s report has again proved the apprehension true and also has added a new dimension that SEZ are economic disasters as well.
Even the duty freedom was not given once but twice – once on the inputs used and again on the finished products from the SEZs. The duty foregone on the inputs are irrecoverable as there is no provision of paying back.
It’s quite cleat that SEZs [that are framed on half-backed logic and parameters] will do more harm than good. The latest report by CAG makes it important to re-think on the modus operandi of SEZ. It’s important to think on SEZ with respect to revenue losses and tax holidays. The current discussion of impact of SEZ on agriculture has actually overshadowed the matter of revenue loss by SEZ. The CAG’s report has again proved the apprehension true and also has added a new dimension that SEZ are economic disasters as well.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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