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<h1>Finance Act 2001 Implements Central Government's Financial Proposals for Fiscal Year 2001-2002, Retroactive from April 1, 2001.</h1> The Finance Act, 2001, enacted by the Parliament of India, received presidential assent on May 11, 2001. It is designed to implement the financial proposals of the Central Government for the fiscal year 2001-2002. The Act is officially cited as the Finance Act, 2001, and its provisions, unless specified otherwise, are retroactively effective from April 1, 2001.