The Special Economic Zones (Amendment) Bill, 2019, which seeks to allow trusts to set up units in special economic zones by amending the SEZ law, has become the first legislation to be passed by the newly-constituted 17th Lok Sabha, says a report.
Mr Piyush Goyal, Commerce and Industry Minister, who introduced the Bill, pointed out that special economic zones (SEZs) have played an important role in promoting exports and the economic growth of the country.
The Special Economic Zones (Amendment) Bill, 2019, will replace the Special Economic Zones (Amendment) Ordinance, 2019, which was promulgated in March. The ordinance had paved the way for trusts to set up units in these zones.
However, before becoming law, the amendment will have to be moved for passage in the Rajya Sabha, where the government lacks numbers, the report said.
