<h1>Government Approves 524 SEZs; 35 De-notified for Poor Progress; Debate on Tax Relief for Developers Continues.</h1> The government has approved 524 Special Economic Zone (SEZ) proposals, with 352 notified and 196 functional SEZs. Fiscal benefits are embedded in the SEZ Act, 2005, and SEZ Rules, 2006, promoting exports. Recently, 35 SEZs were de-notified due to unsatisfactory progress, subject to duty payments and state approval. Additionally, 18 in-principle approved SEZs were canceled. There are calls to remove the Minimum Alternate Tax (MAT) and Dividend Distribution Tax (DDT) for SEZ developers, but the Finance Ministry disagrees. SEZ functioning is regularly reviewed, with adjustments made based on stakeholder feedback.