SEZ - GS questions based on daily current affairs

1)   Consider the following statements

1. The Government of India launched the Modified Special Incentive Proposal Scheme (M-SIPS) to promote expansion of manufacturing, diversification and modernization in the Electronic System Design and Manufacturing (ESDM) sector.
2. The scheme has a provision of providing 20% subsidy for investments in capital expenditure within SEZs and 25% in non-SEZs.

Which of the above statements is/are correct?

a. Only 1
b. Only 2
c. Both
d. None

2)   Consider the following statements related to SEZ

1. It is a duty free enclave to be treated as foreign territory for the purpose of trade operations and duties and tariffs

2. The corporation in SEZs will not have to pay any income tax on their profits for the first five years and only 50% of the tax for 2 more years thereafter

3. A SEZ does not require a license for exports

Which of the above statements are true?

a. 1,2
b. 2,3
c. 1,3
d. All the above