The SEZ Act, 2005 which came into effect in February 2006 has certain objectives. In this context, consider the following:. 1. Development of infrastructure facilities. 2. Promotion of investment from foreign sources. 3. Promotion of exports of services only. Which of the above are the objectives of this Act?

1. The Special Economic Zones (SEZ) Act, 2005 was enacted to provide a framework for the establishment, development, and management of SEZs in India. 2. Statement 1: A primary objective of establishing SEZs is the development of world-class infrastructure facilities within these zones to attract investment and facilitate business operations. This statement is correct. 3. Statement 2: SEZs are designed to attract significant domestic and foreign investment by offering attractive fiscal incentives, simplified procedures, and quality infrastructure. Promotion of investment from foreign sources is a key objective. This statement is correct. 4. Statement 3: A major objective of SEZs is the promotion of exports of both goods *and* services. The Act aims to boost overall exports, not just services only. Many SEZs focus on manufacturing and export of goods. Therefore, this statement is incorrect as it limits the scope to services only. 5. Since objectives include the development of infrastructure (1) and promotion of foreign investment (2), option (A) is correct.