Sign In
Learn bits
Polity & Governance
Mahesh

26/07/22 20:20 PM IST

DESH Bill

In News 
  • The government plans to table the Development of Enterprise and Service Hubs (DESH) Bill during the ongoing monsoon session of Parliament, in a bid to overhaul the SEZ Act of 2005. 
Features of DESH Bill 
  • It will overhaul the existing Special Economic Zone law of 2005, aiming to revive interest in SEZs and develop more inclusive economic hubs.
  • The new law will allow units to produce both for domestic and international markets.
  • SEZs will be revamped and renamed Development Hubs. They will be free from several laws that currently restrict them. These hubs will facilitate both export-oriented and domestic investment.
  • The government may impose an equalisation levy on goods or services supplied to the domestic market to bring taxes at par with those provided by units outside.
Shortcomings of SEZ 
  • India’s export-related schemes, including the SEZ Scheme, were inconsistent with WTO rules since they directly linked tax benefits to exports.
  • The SEZ Act was implemented in 2006 in a bid to create export hubs and boost manufacturing in the country.
  • India’s export-related schemes (including SEZ Scheme) were in the nature of prohibited subsidies under the Agreement on Subsidies and Countervailing Measures and were inconsistent with WTO norms. 
Source- PIB 

More Related Current Affairs View All

17 Sep

Reasons Behind the heavy rain in Uttarakhand, Himachal

'Dehradun and several other districts in Uttarakhand have experienced very heavy rainfall over the past few days, triggering landslides in multiple areas and causing rivers to swel

Read More

08 Sep

Rajasthan’s coaching centre Bill

'The Rajasthan Coaching Centres (Control and Regulation) Bill, 2025, is a significant piece of legislation passed by the Rajasthan Assembly to regulate and oversee the state's burg

Read More

28 Aug

IADT-1

'Recently, the Indian Space Research Organisation (ISRO) successfully carried out its first Integrated Air Drop Test (IADT-1), a crucial milestone in the preparation for the countr

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps