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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 

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