LAWS TO PREVENT SOCIA ECONOMIC OFFENCES IN INDIA

AUTHORS – Ms. K. M. PRATHYUSHA* & MS. T. VAISHALI**, LLM SCHOLAR* & ASSISTANT PROFESSOR OF LAW** AT THE TAMILNADU DR. AMBEDKAR LAW UNIVERSITY (SOEL), CHENNAI

BEST CITATION – Ms. K. M. PRATHYUSHA & MS. T. VAISHALI, LAWS TO PREVENT SOCIA ECONOMIC OFFENCES IN INDIA, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (4) OF 2024, PG. 891-898, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

Socio-economic offences in India are distinct from conventional crimes as they target the economic stability and social fabric of the nation. These offences, including corruption, tax evasion, money laundering, and adulteration, have far-reaching consequences for governance, public welfare, and economic development. This paper explores the legal framework designed to combat such offences, focusing on key legislations like the Prevention of Corruption Act, the Benami Transactions (Prohibition) Act, and the Prevention of Money Laundering Act. It also examines the implementation challenges, such as judicial delays, systemic corruption, and public unawareness. Through case studies of major socio-economic offences, the paper highlights the impact of these crimes and the effectiveness of current laws. Finally, it proposes reforms and recommendations to strengthen enforcement mechanisms, enhance public awareness, and leverage technology to ensure socio-economic justice and sustainable growth in India.

Keywords: Socio-economic offences, Corruption, Money laundering, Tax evasion, Legal framework.