There has been a significant drop in the number of proposals to set up new Special Economic Zones (SEZs), according to latest report by DTZ India.
According to the global real estate consulting firm, the number of proposals dropped by 67% y-o-y in 2009. In 2010, 2011 and 2012, a drop of 50%, 48% and 19%, respectively, was witnessed. At the same time, merely 39% of the notified SEZs have reached the operational stage. ?Imposition of taxes such as Minimum Alternate Tax (MAT) and Dividend Distribution Tax (DDT), have severely impacted the attractiveness of SEZs and proved to be a major setback for the growth of SEZs,? says the report.
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