CPI(M) to take up SEZ changes with PM

NEW DELHI: Terming the changes suggested by the Empowered Group of Ministers in the SEZ policy inadequate and far short of what is required, the CPI(M) plans to take up the matter with PM Manmohan Singh. Party honchos will press him not to proceed without making changes in the SEZ Act and Rules suggested by them.

The party insists that a multi-product SEZ should have a minimum size of only 400 hectares and a maximum ceiling of 2000 hectares. Tax concessions to corporates should also go.  The other major demand was that peasants should not be left at the mercy of land sharks. With the lack of a rehabilitation policy that is legally enforceable, the license being given to corporates to buy land on a large scale will be harmful, the party said.

Sources have said if the Prime Minister does not intervene and amend the Act, the Left parties will take up the matter in Parliament when the second phase of budget session resumes on April 26.  “The eGoM has left the exorbitant and unjustified tax concessions intact. As a consequence, the Centre stands to lose tens of thousands of crores of rupees in revenue. The tax bonanza was one of the basic problems with the SEZ Act and Rules,” said politburo member Sitaram Yechury.