Areas which are engines for economic growth supported by quality infrastructure and complemented by an attractive fiscal package are known as
[amp_mcq option1=”Export Processing Zones” option2=”Duty Free Tariff Zones” option3=”Special Economic Zones” option4=”Technology Parks” correct=”option3″]
This question was previously asked in
UPSC NDA-1 – 2016
Special Economic Zones (SEZs) are specifically designated areas in a country with special economic regulations that differ from the rest of the country. They are designed to promote trade, investment, job creation, and effective administration. SEZs are typically supported by quality infrastructure and often include attractive fiscal packages, such as tax incentives, customs duty exemptions, and streamlined procedures, to attract domestic and foreign businesses.