For the first time in the country, a SEZ withdrawal policy has been planned by the government of Maharashtra due to the continuing failure. This new policy will allow the developers whose projects got stuck in land acquisition or tax laws, a sigh of relief. The confederation of Real Estate Developers Association of India (CREDAI) is however defiant and contradicting the decision of the government.
CREDAI claims that this very withdrawal will make no positive change in the system but only worsen the situation. SEZ is created by the centre and state together and both have to contemplate better measures to protect the zone rather then turning back and exiting.The integrated industrial township policy is a successful one and SEZ with multiple concessions failed. This is utter bewildering. The industrial policy is also expected to generate employment that is a good point. But how the SEZ failed and why no solutions are sorted out is questioned by the apex body.In SEZ’s, industries relishes the benefits of both direct and indirect taxation, apart from provision for 50 per cent non-processing units, all with just one-rupee-surplus-export formula which is not allowed under the integrated industrial township plan. The state govt. states that this new industrial plan will be helpful for builders. What needs to be understood is SEZ has more beneficiary elements so why would anyone go to the other integrated plans. The point of SEZ exit is hard to conceive.