Introduction of FEMA Act,1999

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....olled to introduction of exchange control law through defense of India rules by the Britishers in 1939. subsequently, Foreign Exchange Regulation Act (FERA) was enacted in 1947 which was later replaced with Foreign Exchange Regulation Act, 1973. * The Indian Parliament that was introduced to consolidate and amend the law relating to foreign exchange transactions in India. The FEMA Act came into ....

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..... * Government as part of its agenda of liberalisation of the Indian economy in 1991, permitted free movement of foreign exchange in connection trade related and payment as well as foreign investment in various sectors. This increased the flow of exchange to India and consequently foreign exchange increased substantially. This act has been made effective from 1 Jun 2000. This act enables managem....

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....attracting foreign investment to India. Learn about the objectives, features, and provisions of the FEMA Act 1999. Key Feature of FEMA Act * Regulation of transaction between resident and non residents. * FEMA provides a comprehensive regulatory framework for all foreign exchange transactions in India, including those involving currency, securities, and commodities. * Investment in India by....