The Repercussion of Economic Offences in India

Abstract

V Thangavel

Economic offences form a separate category of crimes under criminal offences. Socioeconomic offences are crimes that have an impact on a society’s economic and financial well-being. These offences are usually committed by individuals or corporations with significant financial resources, and the economy’s results can be severe. A few high-profile incidents of socioeconomic offences have occurred in India in recent years, bringing the subject to the forefront of public attention. This blog article will look at the impact of socioeconomic crimes on the Indian economy, as were laws and regulations in place to combat them. This paper discus about various economic offences, the relevant legislation and concerned enforcement authorities and their various duties observed in different environmental conditions. Economic offences not only inflict pecuniary losses on individuals but also damage the national economy and have security implications as well. The offences of smuggling of narcotic substances, counterfeiting of currency and valuable securities, financial scams, frauds, money laundering and hawala transactions etc. evoke serious concern about their impact on national security. The economic activities are listed based on their offences and related to the law through investigative officers and related agencies or departments. This paper mainly focuses on the various offences all over India mainly concentrating on the metropolitan cities and their population ratio bases. This research deal with agitate economic offences detected by tenement officials and action taken by the Jurisdictional authority through their truth and fact of evidence. This article discusses the key economic crimes that are highlighted, as well as the numerous official government responses to the crime and the jurisdictional measures taken to defend against them under different conditions that promote both the development of the financial sector and the country.

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