Economic Offences in India: A Critical Analysis
![handle is hein.journals/ijlmhs23 and id is 3060 raw text is: International Journal of Law Management & Humanities
Economic Offences in India:
A Critical Analysis
ANAND SHANKARI
ABSTRACT
This article presents a comprehensive critical analysis of economic offences in India, aiming
to understand their nature, causes, and consequences while evaluating the effectiveness of
the existing legal framework in addressing such crimes. Economic offences encompass a
wide range of illicit activities that undermine the economic stability, growth, and welfare of
a nation. In the Indian context, these offences include fraud, corruption, money laundering,
tax evasion, insider trading, and various forms of financial misconduct. Through an
examination of empirical data, case studies, and scholarly research, this analysis explores
the factors contributing to the prevalence of economic offences in India. It delves into the
systemic issues, such as weak regulatory mechanisms, inadequate enforcement, and
governance failures that create an environment conducive to such crimes. It examines the
limitations of the existing legal framework, including gaps in legislation and loopholes that
allow offenders to escape accountability. Furthermore, the study critically assesses the role
of financial institutions, corporate governance structures, and regulatory bodies in either
preventing or enabling economic offences. Based on the findings, this analysis provides
recommendations for policy reforms and strategic interventions to strengthen the
prevention and deterrence mechanisms against economic offences. These include enhancing
regulatory oversight, improving coordination among law enforcement agencies, promoting
transparency and accountability, and raising awareness among stakeholders. Overall, this
critical analysis contributes to a deeper understanding of economic offences in India and
offers insights into the necessary measures to combat such crimes effectively and foster a
more robust and resilient economic environment.
Keywords: Economic Offence, Financial Misconduct, Fraud, Corruption, Money
Laundering, Tax Evasion, Insider Trading, Financial Institutions, Corporate Governance.
I. INTRODUCTION
Economic offences in India have been on the rise in recent years, with a variety of offences
ranging from tax evasion and money laundering to corporate fraud and forgery. The economic
offences in India have caused serious financial losses to the State, public sector and individuals,
1 Author is a LL.M. Student at School of Law, Galgotias University, India.
© 2023. International Journal of Law Management & Humanities [ISSN 2581-5369]
3032
[Vol. 6 Iss 3; 3032]](ViewImageLocal?handle=hein.journals/ijlmhs23&div=254&collection=&method=preview&ext=.png&size=3)
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Economic Offences in India: A Critical Analysis
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