Finance Minister says, there will be no more Tax-Free zones in the country. Talking to news persons in Siliguri today Pranab Mukherjee said that instead of tax free zone, the Centre is considering creating special economic zones in backward districts.

He said Tax-free zone status in Himachal Pradesh and Uttarakhand is being withdrawn gradually following opposition by different states. However, renewal of tax free zone status of Sikkim, which will expire in 2017, will be reviewed on the basis of the Socio-Economic conditions of the state at that time.