Economic Offenders  

The 48-year-old diamond merchant, Nirav Modi was on Thursday (December 5) declared a fugitive economic offender under Fugitive Economic Offenders Act by a special Prevention of Money Laundering Act ( PMLA) court

Starting next year, India would have a comprehensive database called National Economic Offence Records that would help in tracking economic offenders.

Prime Minister Narendra Modi said that his government made laws to prevent economic offences in the country. The law also enabled the Indian government to seize their property at any corner in the world.

More taxpayers, a steadily growing GDP, a larger digital economy and better tracking of economic offenders and cash frauds are some of the positive results from the demonetisation of November 8, 2016. Details follow

The Fugitive Economic Offenders Act will deter fugitive economic offenders from fleeing country