SEZs to be revenue generators not losers: Kamal Nath

Kolkata, Nov 25 (UNI) Union Commerce and Industry Minister Kamal Nath today allayed fears that Special Economic Zones (SEZs) would lead to loss of revenue to the government.

Instead, the SEZs would increase exports and generate Rs 40,000 crore of revenues to the government, Mr Nath said on the sidelines of the 106th annual general meeting of Bharat Chamber of Commerce here. It would also generate employment, he said.

The views that SEZs would lead to revenue loss was based on "notional calculation" since exports were not taxed now, the Union Minister said.

The Minister's comments came following Finance Minister P.

Chidambaram's view that SEZs would lead to tax revenue loss.

He said the government had made it clear that single crop land would be preferred for SEZs.

The government would ensure that there was no loss agricultural production front in case of SEZs, he said.

He said there would be no displacement of people unless gainful employment is guaranteed.

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