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Special Economic Zones (SEZ) developed by the Government of India aim
  • a)
    to attract foreign companies to inves tin India
  • b)
    to encourage small investors
  • c)
    to encourage regional development
  • d)
    none of the above
Correct answer is option 'A'. Can you explain this answer?
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Special Economic Zones (SEZ) developed by the Government of India aima...
The correct answer is a) to attract foreign companies to invest in India.
Special Economic Zones (SEZs) are designated areas in a country that are intended to promote economic development and attract investment by offering a range of incentives and benefits to companies that set up production units within them. In India, SEZs were established with the goal of attracting foreign companies to invest in the country and set up operations there. By offering tax exemptions and other benefits, the government hoped to encourage foreign companies to invest in India and create jobs for local workers. While SEZs can also contribute to regional development and support small investors, attracting foreign investment is a primary goal of these economic zones in India.
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Special Economic Zones (SEZ) developed by the Government of India aima...
Special Economic Zones (SEZ) in India
SEZs were developed by the Government of India with the primary objective of attracting foreign companies to invest in India. Let's break down the reasons why SEZs were established:
Benefits of SEZs:
- **Attract Foreign Companies**: One of the main reasons for setting up SEZs was to attract foreign companies to invest in India. These zones offer various incentives and benefits to foreign investors, such as tax exemptions, simplified regulations, and infrastructure support.
- **Encourage Economic Growth**: By attracting foreign companies, SEZs help stimulate economic growth in the country. Foreign investments lead to job creation, technology transfer, and overall development of the region where the SEZ is located.
- **Boost Export Activities**: SEZs are designated areas where companies can manufacture goods for export without paying certain taxes or duties. This helps in promoting export activities and improving the country's trade balance.
- **Promote Industrialization**: SEZs play a crucial role in promoting industrialization and manufacturing activities in the country. By providing a conducive environment for businesses to operate, SEZs attract investments in sectors like manufacturing, IT, biotechnology, and more.
In conclusion, Special Economic Zones (SEZs) in India were developed primarily to attract foreign companies to invest in the country. These zones offer a range of incentives and benefits to foreign investors, helping in economic growth, job creation, export promotion, and overall development of the region.
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Read the given extract and answer the questions that follows:Federalism is a system of government in which the power is divided between a central authority and various constituent units of the country. Usually, a federation has two levels of government. One is the government for the entire country that is usually responsible for a few subjects of common national interest. The others are governments at the level of provinces or states that look after much of the day-to-day administering of their state. Both these levels of governments enjoy their power independent of the other. In this sense, federations are contrasted with unitary governments. Under the unitary system, either there is only one level of government or the sub-units are subordinate to the central government. The central government can pass on orders to the provincial or the local government. But in a federal system, the central government cannot order the state government to do something. State government has powers of its own for which it is not answerable to the central government. Both these governments are separately answerable to the people.Q. Usually, a federation has _________ levels of government.

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Special Economic Zones (SEZ) developed by the Government of India aima)to attract foreign companies to inves tin Indiab)to encourage small investorsc)to encourage regional developmentd)none of the aboveCorrect answer is option 'A'. Can you explain this answer?
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