The amount foregone is estimated to be Rs 26,533.87 crore in 2014-15; Rs 27,855.10 crore in 2013-14; and Rs 23,305.40 crore in 2012-13, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.
Thus, a total of Rs 77,694.37 crore in revenue was "foregone on account of concessions availed by the SEZ Developers and Units under the provisions of sections 10AA and 80-LA of the Income Tax Act, 1961 as well as customs duty and excise duty...During the last three years," she said.
As many as 36 such zones are operational in Tamil Nadu followed by Karnataka and Telengana (26) and Maharashtra (25).
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%