Current Affairs - Bills and Acts

India plans to regulate online real money gaming (RMG) under the Prevention of Money Laundering Act (PMLA), 2002, aiming to enhance financial transparency and user protection. The move responds to the sector’s rapid growth and the associated risks of illicit financial flows. RMG platforms, including fantasy sports and poker, have surged in popularity, especially among youth, driven by affordable internet, mobile accessibility, and digital payments. However, concerns about money laundering through complex transaction layering and cross-border fund integration have prompted the government to consider applying the 2002 legislation to strengthen oversight and reduce vulnerabilities in the digital gaming landscape.

India enacted its first comprehensive bankruptcy law in 2016, marking a major shift in how financial distress and insolvency were handled. The law aimed to create a more structured, time-bound, and creditor-friendly insolvency resolution process, replacing the earlier fragmented systems. This legislation introduced a framework that enabled faster debt recovery, improved borrower behaviour, and enhanced credit discipline. Its impact has been profound—over 30,000 cases settled pre-admission, a notable reduction in debt costs for distressed firms, and improved governance. Identifying 2016 as the year of enactment is vital to understanding the chronology and evolution of insolvency reforms in India.

The World Health Organization adopted its first global Pandemic Agreement under Article 19 of the WHO Constitution during the 78th World Health Assembly. This legal instrument, only the second after the Framework Convention on Tobacco Control (2003), aims to enhance global health security through equitable access to vaccines, diagnostics, and therapeutics during pandemics. The agreement promotes international cooperation, ensures technology transfer, mandates affordable access, and establishes financial and logistical frameworks for effective pandemic response. By using Article 19, which allows the WHO to adopt conventions or agreements for health-related matters, this treaty sets a vital precedent for global collaboration in public health emergencies.

The original Consumer Protection Act in India was enacted in 1986, marking a significant step toward safeguarding consumer rights. This legislation laid the foundation for establishing consumer forums and redressal agencies across the country to address grievances related to unfair trade practices, defective goods, and deficient services. It was a pioneering effort to institutionalize consumer justice within India's legal framework. Over time, the law has evolved to meet emerging challenges, especially with the rise of digital commerce. However, the foundational act of 1986 remains crucial in shaping the consumer rights movement and guiding subsequent reforms, including the updated 2019 version.

The imposition of service tax on broadcasting services falls under the Finance Act of 1994, utilizing the residuary powers of Parliament outlined in Entry 97 of the Union List. This classification allows the Centre to tax broadcasting as a service, while states can simultaneously impose entertainment tax under their jurisdiction, specifically Entry 62 of the State List. The Supreme Court has upheld this dual taxation model, endorsing the aspect theory in taxation law. Recognizing the 1994 Act as the legal origin for service tax in this domain helps clarify the division of powers and resolves potential conflicts in fiscal policy enforcement.