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CA Foundation Exam  >  CA Foundation Questions  >  India’s first Greenfield Special Economic Zon... Start Learning for Free
India’s first Greenfield Special Economic Zone (SEZ) was set up at
  • a)
    Ahmedabad
  • b)
     Bangalore
  • c)
     Indore
  • d)
    Pune
Correct answer is option `A`. Can you explain this answer?
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India’s first Greenfield Special Economic Zone (SEZ) was set up ata)Ah...
India’s First Greenfield SEZ:
India’s first Greenfield Special Economic Zone (SEZ) was set up in Ahmedabad. Here is an explanation of this answer:

What is a Greenfield SEZ?
A Greenfield SEZ is a specially delineated duty-free enclave and is developed for the purpose of promoting exports, attracting foreign investment, and boosting economic growth.

Location:
The Greenfield SEZ in Ahmedabad was strategically located to leverage the city’s infrastructure, connectivity, and industrial ecosystem.

Key Features:
- The SEZ offered various incentives such as tax breaks, streamlined regulatory processes, and infrastructure support to attract businesses.
- It aimed to create a conducive environment for export-oriented industries to thrive.

Significance:
Being the first Greenfield SEZ in India, the establishment in Ahmedabad set a precedent for future SEZ developments across the country. It demonstrated the government’s commitment to fostering a business-friendly environment and promoting economic growth through special economic zones.

Impact:
The Greenfield SEZ in Ahmedabad paved the way for increased foreign investments, job creation, and export growth in the region. It also served as a model for other states and regions looking to set up similar zones to boost industrial development and exports.
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India’s first Greenfield Special Economic Zone (SEZ) was set up ata)Ah...
India's first Greenfield Special Economic Zone (SEZ) was set up at. Ahmedabad. Bangalore.
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Similar CA Foundation Doubts

Features of a Mixed Economy:A mixed economy is an economic system that combines elements of both a market economy and a planned economy. It incorporates features of both private enterprise and government intervention. The correct answer is D, as all of the following features are characteristic of a mixed economy:1. Planned economy:A mixed economy includes elements of a planned economy, where the government plays a role in guiding and regulating economic activities. It formulates economic plans and policies to ensure the efficient allocation of resources and to promote economic stability.2. Dual system of pricing:In a mixed economy, there exists a dual system of pricing, which means that both market prices and government-set prices coexist. While market forces determine prices for most goods and services, the government may intervene to regulate prices in certain sectors to protect consumers or promote social welfare.3. Balanced regional development:Another characteristic of a mixed economy is the emphasis on balanced regional development. The government intervenes to ensure that economic growth and development are not concentrated in specific regions or industries but are spread across different regions and sectors. This helps to reduce regional disparities and promote overall economic stability and social welfare.Benefits of a Mixed Economy:A mixed economy offers several benefits due to its combination of market forces and government intervention. Some of these benefits include:1. Economic efficiency:By incorporating market mechanisms, a mixed economy allows for resource allocation based on supply and demand, which promotes economic efficiency. Market forces encourage competition, innovation, and productivity, leading to higher levels of economic growth.2. Social welfare:Government intervention in a mixed economy enables the provision of public goods and services that may not be adequately provided by the market alone. This includes areas such as healthcare, education, infrastructure, and social security, ensuring a certain level of social welfare and equity.3. Stability and regulation:The government's role in a mixed economy helps to maintain economic stability through macroeconomic policies such as fiscal and monetary measures. It also regulates certain sectors to prevent market failures, protect consumer rights, and ensure fair competition.Conclusion:A mixed economy combines the advantages of both market forces and government intervention. It allows for economic efficiency, social welfare, and stability. The features of a mixed economy include elements of a planned economy, a dual system of pricing, and balanced regional development. These features work together to create a system that promotes both economic growth and social welfare.

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India’s first Greenfield Special Economic Zone (SEZ) was set up ata)Ahmedabadb)Bangalorec)Indored)PuneCorrect answer is option `A`. Can you explain this answer?
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