An overview of Indian Constitution.pptx

Overview of Indian constitution

1. An overview of Indian Constitution Name - Aryadip Dey Dept - Textile Technology 4 th Year, 8 th semester Roll no. - 11001420029 Subject name - Indian Constitution Subject code - MC 801A

2.  CONSTITUTION OF INDIA The Indian Constitution is the ultimate law of the land. It is the everlasting mechanism that keeps the political system in place. It is an ongoing document. In addition to outlining basic rights, guiding principles, and citizen responsibilities It also lays down the rules defining fundamental political concepts and determines the structure, processes, powers, and responsibilities of the governing bodies.

3. ROLE OF CONSTITUTION IN BUSINESS A nation's economy grows in direct proportion to the business climate that exists there. An effective corporate environment must include the legal side. It is a reflection of the national government's ideology and policy framework. It guarantees that all businesses function in accordance with the nation's legal framework.

4. MAJOR PROVISIONS OF INDIAN CONSTITUTION RELATED TO BUSSINESS 

5. THE PREAMBLE Every Indian citizen is guaranteed the following in the preamble of the Indian Constitution: Economic justice :- Social, economic, and political justice is the responsibility of corporate organizations. Liberty of expression and faith :- This means that every corporate entity needs to be free to communicate its ideas, beliefs, and religion. Equality of status & opportunity :- Every company should be given the same standing. Every business must also maintain the equality of opportunity and position with regard to its paid employees.

6. FUNDAMENTAL RIGHTS Right to equality :- All enterprises are equally accessible to all citizens. Every person is given equal chance when it comes to appointments to government positions. Right to freedom :- Each and every individual is free to establish the groups and enterprises they choose. Right against exploitation :- It is illegal to trade in people or use forced labor. It is forbidden to employ youngsters less than 14 years old.

7. FUNDAMENTAL RIGHTS Right to freedom of religion :- No citizen may be pressured into selling off assets or entering into a business deal in the name of a certain faith. Cultural & educational rights :- No citizen may be denied entrance to government-funded institutions on the grounds of caste or religion. Right to constitutional remedies :- Any firm that is registered and has been defrauded or exploited is entitled to seek assistance from the courts.

8.  DIRECTIVE PRINCIPLES OF STATE POLICY 1948 Industrial disputes Act, 1947, 1970 Foreign Exchange Regulation Act (FERA), 1948 Minimum Wages Act, 1973 Factories Act, and 1948 Monopolies and Restrictive Trade Practices (MRTP) Act Industrial Strategy These are the values that the government ought to have in mind while drafting legislation. Part IV of the constitution enshrines articles 39 to 51, which contain a variety of directive concepts. All of these clauses direct government policy in the direction of promoting a favorable business climate and economic activity. The guiding principles that are directly connected to commerce have been taken into consideration by the Indian government in a number of acts and policies that have been passed thus far.

9. CONSTITUTIONAL PROVISIONS   ARTICLE 301: Encourages free flow of trade and commerce throughout India. ARTICLE 302: Explains the power of the parliament to impose restrictions on trade, commerce and intercourse. ARTICLE 303: Deals with the restrictions on legislative powers of the Union and of the States with regard to trade and commerce. ARTICLE 304: Explains the Sate’s power to regulate trade and commerce. ARTICLE 305: Saves existing laws and laws providing for State monopolies. ARTICLE 306: Deals with powers of certain states to impose restriction son trade and commerce. ARTICLE 307: Deals with appointment of authority for carrying out the purpose of Articles 301 to 304.

10. ECONOMIC IMPORTANCE To provide adequate means of livelihood for all citizens. To secure equal pay for work to both men and women. To protect the rights of workers, especially children. To regulate the economic system of the country to prevent monopoly by few. To make provision for securing right to work. To prevent exploitation.

11. CONCLUSION  The government is able to interfere with company operations because of the legal aspects of business. Preserving the interests of employees working for companies, sectors, and other institutions is the cornerstone of this action. The Indian government is charged with controlling the economy and defending the interests of impacted parties under the fundamental rights and guiding principles of state policy outlined in the country's constitution. Thus, a region's trade and commerce are greatly influenced by the legal aspects of the business environment.