(a) the revenue earned by the Government from implementation of
Foreign Exchange Regulation/ Management Act (FEMA) and Monopolies
and Restrictive Trade Practices Act (MRTP) during each of the last
three years and the current year;
(b) whether any review has been made/proposed to be made in the Acts in this regard; and
(c) if so, the reasons and details thereof?
MINISTER OF THE STATE IN THE MINISTRY OF FINANCE (SHRI S.S. PALANIMANICKAM)
(a): The details of the amounts accruing to the Government by way of recovery of penalties
imposed and the value of Indian/foreign currencies confiscated under FEMA & FERA and the
revenue collected under MRTP Act for the purpose of providing cause lists, copies of final
orders, certified copies of docket orders and file inspection charges, during the last 3 years
and the current year are at Annexure.
(b) & (c): A review has already been taken consequent to which FERA, 1973 has been repealed
and replaced by FEMA, 1999. As far as MRTP Act is concerned, it has since been repealed.