New Delhi: Expressing its objection to the ordinance route taken by the Union government for amending Special Economic Zone (SEZ) Act, the Biju Janata Dal (BJD) Wednesday asked whether bringing ‘trust or ‘any entity’ in the Special Economic Zone Act will encourage the foreign direct investment (FDI) in the country.
While speaking on behalf of the party in the Lok Sabha, senior BJD leader Bhartruhari Mahtab said the only thing mentioned in the bill is that you are making an amendment to bring ‘trust’ and ‘entity’ in the SEZ Act.
“The idea was that FDI will increase with the SEZ Act. Last year the FDI came down. Is this provision of ‘trust or any entity’ will bring more FDI? Has it been happened in last three months? If yes, we support the bill,” said Mahtab.
He also raised objection over taking ordinance route.
“Taking an ordinance route that is something which should be avoided. What was the urgency to bring an ordinance? You are making an amendment to add two words. I have no objection to bringing ‘trust or any entity. My objection is that it has to be notified by the central government.
He further said that a law on policy has to be non-discriminatory and without any discretion. In the last 10 years, more bungling has taken place with more discretionary power of the decision-making authority.
It is to be mentioned here that the Special Economic Zones (Amendment) Bill, 2019 being introduced by the Union Commerce and Industries Minister Piyush Goyal Wednesday passed in the Lok Sabha.
The Bill replaced the Special Economic Zones (amendment) ordinance.
The Bill amended sub-section (v) of section 2 of the Special Economic Zones Act, 2005, allowing a ‘trust or any entity’ notified by the Union government to be eligible for grant of permission to set up a unit in Special Economic Zones.
In Anticipation
What should we look forward to in 2025? I mean “look forward to” in the sense of anticipate rather than...
Read more
