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The Maharashtra Industrial Development Corporation (MIDC), the state's nodal agency creating infrastructure for industry, had applied for permission to set up 30 Special Economic Zones (SEZs), when the policy was first announced. Over the years with changes in the tax structure governing SEZs having made them unattractive as investment destinations, mainly the imposition of minimum alternate tax and direct tax code, the MIDC is asking for permission that 24 of its proposed 30 SEZs should be cancelled.
As per the MIDC senior official, they had proposed these 30 SEZs in three models, around 16 SEZs where supposed to be developed by MIDC alone and the other two models were in a public private partnership (PPP), where it had 7 SEZs, and another seven in joint ventures. And of the 16 where MIDC was the sole developer, two are already operational, one at Hinjewadi near Pune and another at Shendra, near Aurangabad. Two more, one at Phaltan and another at Kesrudi-Khandala, will be operational in another six months,” he further added that the MIDC's requests for cancellation of the balance 12 SEZs is at varying stages.
The Hinjewadi SEZ is in Phase III of the IT Park while the Phaltan SEZ has an anchor tenant - Cummins India. There are signs that Cummins India is looking for more land in the 100 hectare SEZ, expanding its presence there while the 110 hectare Kesurdi Khandala SEZ already has one tenant, Helvoet. The Phaltan, Kesurdi Khandala and Shendra SEZs are for the engineering sector while the Hinjewadi SEZ is earmarked for the IT sector.
'We had adopted three models for SEZ development, with 16 in which we were developers, seven were in a PPP mode while another seven were in joint ventures. Barring two JVs, one with Indiabulls, which has scaled back its SEZ to 1100 hectare and Bharat Forge which has retained its intention of a 4500 hectare SEZ, the others have all called off their plans. So also the SEZs that were to come up in the PPP model, all seven are seeking or have received permission for cancellation,' the official added.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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