Economic, Business and Commercial Laws

India redrafted its economic policy to usher in a new era of deregulation, liberalization and global integration. Since then significant policy initiatives have been introduced, to provide stimulus for accelerated growth, industrial efficiency and international competitiveness. As part of reform process, the government has also initiated legislative reforms in the area of Economic, Business and Commercial laws. The Government enacted Foreign Exchange Management Act, The Competition Act, 2002, Real-estate (Regulation and Development) Act, 2016 and amended Benaim Transaction Prohibitions Act. Further, the Prevention of Money Laundering Act to deal with new categories of economic offenses, has also been enacted. Similarly, in the area of consumer protection and business laws, the process of reforms is going on. In the light of above developments, this study material has been prepared to provide an understanding of certain Economic, Business and Commercial legislation which have direct bearing on the functioning of companies.