: Govt proposes publication of individual's exportimport data as punishable offence with 6months of jail time #FinanceIndia #StockMarketNEWS Govt proposes publication of individual's export-import

@StockMarketNEWS Wed 09 Feb, 2022

Posted in: #FinanceIndia #StockMarketNEWS

Govt proposes publication of individual's exportimport data as punishable offence with 6months of jail time #FinanceIndia #StockMarketNEWS
Govt proposes publication of individual's export-import data as punishable offence with 6-months of jail time New Delhi, Feb 5 (KNN) The government is likely to pass the law which would make publication of quantity and value of individual export and import data by a person a punishable offence with up to six months of imprisonment.

This proposal was introduced in the union budget 2022-23 under “protection data” in Finance Bill.

If a person publishes any information relating to the value or classification or quantity of goods entered for export from India, or import into India, or the details of the exporter or importer of such goods under this Act, unless required so to do under any law for the time being in force, he shall be punishable with imprisonment for a term which may extend to six months, or with fine which may extend to fifty thousand rupees, or with both,” the Finance Bill said.

However this rule is not applicable to the central government, clarified the bill.

“For the purposes of this section, the expression ‘publishes’ includes reproducing the information in printed or electronic form and making it available for public,” it added.

This proposed law looks out for the protection of confidential data of exports and imports by making people accountable who publish such data. (KNN Bureau)

Stock Market News & Best Intraday tips & Stocks near support

Report