Business law

Major 

Asst.prof. Priti Upadhyay 

Topic -  foreign exchange management act 2000

The FEMA ACT 1999 is a law to replace the draconian FERA ACT 1973. The FERA Act was enacted in 1973 in the backdrop of acute shortage of foreign exchange in the country, was subsequently reviewed in 1993. Several amendments were enacted as part of the ongoing process of economic liberalisation relating to the foreign investments and foreign trade for closer interaction with world economy. FEMA was enacted to replace FERA.