<p>Parliament on Thursday passed a bill allowing trusts to set up units in special economic zones (SEZs) by amending the SEZ law, even as the Opposition questioned the hurry in which the government issued an ordinance just before the General Elections were declared.</p>.<p>With the changes in the law, the government is expecting an annual investment of around USD 3 billion (approximately Rs 20,000 crore).</p>.<p>The Special Economic Zones (Amendment) Bill, which was cleared in Lok Sabha on Wednesday, was passed in Rajya Sabha on Thursday with the government promising that these changes would further enhance SEZs and be an engine of growth and employment</p>.<p>The Bill, which was passed by a voice vote, will replace the Special Economic Zones (Amendment) Ordinance, 2019, which was promulgated on March 2. An amendment moved by CPI(M)'s Elamarom Karim was negated.</p>.<p>Commerce and Industry Minister Piyush Goyal said the Bill was a small amendment but would have "large impact on investment, job and growth".</p>.<p>"Until now, we have eight proposals from such trusts. Total investment proposed by these trusts comes out to be Rs 8,000 crore," Goyal said.</p>.<p>"At the end of March 2019, the investment in SEZs was a whopping Rs 5 lakh crore plus and the employment was over 20 lakh in SEZs and export from SEZs was over Rs 7 lakh crore," he said, adding there was a need to introduce the legislation to assure international markets that investments can be made through Trust mechanism into SEZs in India.</p>.<p>During the debate, Trinamool Congress leader Derek O'Brien questioned the need for an ordinance and said most agree that SEZ had failed the nation and it has become a tool in the hands of "vested interests and land mafia".</p>.<p>Senior Congress MP Jairam Ramesh, who is "not a great proponent of SEZs," said the previous government knew that elections were to be announced but it went ahead with the issuance of an ordinance on March 2. The elections were announced on March 10. "What was the tearing hurry for issuing an ordinance, knowing full well the elections will be announced soon," he asked.</p>.<p>Questioning the government move to issue ordinance, DMK's T K S Elangovan said it was an "insult" to Parliament.</p>.<p>AAP member Sanjay Singh asked the government whether the government has any policies to return unutilised land to farmers and to provide employment to local people in SEZs. </p>
<p>Parliament on Thursday passed a bill allowing trusts to set up units in special economic zones (SEZs) by amending the SEZ law, even as the Opposition questioned the hurry in which the government issued an ordinance just before the General Elections were declared.</p>.<p>With the changes in the law, the government is expecting an annual investment of around USD 3 billion (approximately Rs 20,000 crore).</p>.<p>The Special Economic Zones (Amendment) Bill, which was cleared in Lok Sabha on Wednesday, was passed in Rajya Sabha on Thursday with the government promising that these changes would further enhance SEZs and be an engine of growth and employment</p>.<p>The Bill, which was passed by a voice vote, will replace the Special Economic Zones (Amendment) Ordinance, 2019, which was promulgated on March 2. An amendment moved by CPI(M)'s Elamarom Karim was negated.</p>.<p>Commerce and Industry Minister Piyush Goyal said the Bill was a small amendment but would have "large impact on investment, job and growth".</p>.<p>"Until now, we have eight proposals from such trusts. Total investment proposed by these trusts comes out to be Rs 8,000 crore," Goyal said.</p>.<p>"At the end of March 2019, the investment in SEZs was a whopping Rs 5 lakh crore plus and the employment was over 20 lakh in SEZs and export from SEZs was over Rs 7 lakh crore," he said, adding there was a need to introduce the legislation to assure international markets that investments can be made through Trust mechanism into SEZs in India.</p>.<p>During the debate, Trinamool Congress leader Derek O'Brien questioned the need for an ordinance and said most agree that SEZ had failed the nation and it has become a tool in the hands of "vested interests and land mafia".</p>.<p>Senior Congress MP Jairam Ramesh, who is "not a great proponent of SEZs," said the previous government knew that elections were to be announced but it went ahead with the issuance of an ordinance on March 2. The elections were announced on March 10. "What was the tearing hurry for issuing an ordinance, knowing full well the elections will be announced soon," he asked.</p>.<p>Questioning the government move to issue ordinance, DMK's T K S Elangovan said it was an "insult" to Parliament.</p>.<p>AAP member Sanjay Singh asked the government whether the government has any policies to return unutilised land to farmers and to provide employment to local people in SEZs. </p>
