Introduction:
Special Economic Zones (SEZs) are designated areas within a country that are established by the government to attract foreign direct investment (FDI) and promote economic growth. These zones offer various incentives and benefits to businesses, such as tax breaks, streamlined regulations, and infrastructure support. SEZs have several objectives, and one of the main objectives is to achieve balanced regional development.

Explanation:
Balanced regional development:
SEZs are created to promote balanced regional development by attracting investments and economic activities to regions that are relatively underdeveloped or have a lower level of industrialization. In many countries, there is a significant disparity in terms of economic development between different regions. Some regions may be highly industrialized and economically advanced, while others may lag behind in terms of infrastructure, employment opportunities, and overall development.

By establishing SEZs in underdeveloped regions, the government aims to address this regional imbalance and promote inclusive growth. The development of SEZs in these regions attracts investments, creates job opportunities, and boosts economic activities. This leads to the development of infrastructure, improved living standards, and overall growth in these regions. It helps to reduce regional disparities and create a more balanced distribution of economic activities and opportunities across the country.

Other objectives of SEZs:
While balanced regional development is one of the main objectives of SEZs, they also serve other purposes, including:

- Reallocation of resources: SEZs help in the efficient allocation of resources by attracting investments and utilizing the available resources in a productive manner. They promote export-oriented industries and enable the utilization of local resources for manufacturing and production.

- Economic stability: SEZs contribute to the overall economic stability of a country by attracting FDI, increasing exports, and generating employment opportunities. They create a favorable business environment, facilitate technology transfer, and enhance competitiveness in global markets.

- Redistribution of income: By promoting economic activities in underdeveloped regions, SEZs contribute to the redistribution of income. They create employment opportunities for local residents, improve income levels, and reduce income inequality.

In conclusion, SEZs are created by the government to achieve various objectives, including balanced regional development. By establishing SEZs in underdeveloped regions, the government aims to attract investments, create job opportunities, and promote overall growth in these regions. This helps in reducing regional disparities and achieving a more balanced distribution of economic activities and opportunities across the country.