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India to Ensure its Economic Growth
| April 7, 2007 |  (Be the first to rate this story!) Loading ... |
With making the rules and regulations for the construction of Special economic zones (SEZs) more stringent, the government has certainly mute the political criticism. However, the move can also be looked upon as a commendable level of responsiveness to outlook of the general public.
Contrary to this, the Center’s decision may hamper the economic progress by discouraging a number of potential investors. An SEZ is an industrial township that envisages offering an array of infrastructure facilities for both the industry and the executives working in them. For that reason, 50% of the land needs to be earmarked for non-industrial use. But, this is where the problem actually arises. 2,500 hectares is a small area unable to accommodate the industries operating at global level.
Talking about China special economic zone, they run to hundreds of square kilometers. This has encouraged a number of industries to think about spreading wings to China and establishing a substantial niche in the booming economy.
By taking an immediate decision to curtail the size of the area required to construct an SEZ, the government both at the state and central level have effectively countered the public protests regarding propitiating the industrial sector at the expense of India’s agriculture sector.
The set up of new rules for the construction of SEZs in India has addressed the major hurdles against the new policy. The government certainly does not want any other violent protest as it happened in Nandigram. Also, the Centre has stated not to allow the property developers to acquire the land against the land owner’s will.
But, India requires carving out its presence globally for foreign direct investment (FDI) and it can simply ill-afford a policy environment that eliminates prospective investors to reap investment prospects. Therefore, the country needs to take up different tracks to boost its economic growth.
News Published Under: Special Economic Zones |
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