CONSTITUTION OF INDIA

NAME: TANYA SYNGLEEMAIL: tanyasyngle@gmail.com

CONSTITUTION OF INDIA

CONSTITUTION OF INDIAThe Constitution of India is the supreme law of India. It is a living document, the permanent instrument that makes the

government system work. It lays down the framework defining fundamental political principles, establishes the structure,

procedures, powers and duties of government institutions and sets out fundamental rights, directive principles and the duties

of citizens.

ROLE OF CONSTITUTION IN BUSINESS

The growth of the economy of a country depends on the business environment prevalent in the area. Legal

aspect is an indispensable part of a productive business environment. It reflects the policy framework

and mind set of the government structure of that nation. It ensures that every business operates as per

the statutory framework of the country.

MAJOR PROVISIONS OF INDIAN CONSTITUTION RELATED TO BUSSINESS

• The Preamble

• Fundamental Rights

• Directive Principles of State Policy

• Constitutional Provisions

THE PREAMBLEThe preamble of Indian Constitution guarantees to its every citizen:

ECONOMIC JUSTICE

It is the duty of business organizations to provide social, economic and political justice to every citizen.

LIBERTY OF EXPRESSION & FAITH

According to this, every business organization should have the liberty of thought, expression, faith and belief.

EQUALITY OF STATUS & OPPORTUNITY

Every business is to be granted an equal status. Also every Business must must respect equality of status and opportunity in respect to his salaried workers.

FUNDAMENTAL RIGHTSRIGHT TO EQUALITY

Every citizen has equal access to all businesses. Regarding the appointment to government businesses, equal opportunity is provided to all citizens.

RIGHT TO FREEDOM

Every citizen has the right to form associations & businesses of their choice.

RIGHT AGAINST EXPLOITATION

Human trafficking & forced labor is prohibited. Employment of children below 14 years of age is prohibited.

FUNDAMENTAL RIGHTSRIGHT TO FREEDOM OF RELIGION

No citizen can be forced to transfer property or make a business agreement in the name of a particular religion.

CULTURAL & EDUCATIONAL RIGHTS

Government aided institutions cannot refuse admission to any citizen on basis of his caste or religion.

RIGHT TO CONSTITUTIONAL REMEDIES

All registered businesses can seek help from the judiciary if they have been cheated or exploited.

DIRECTIVE PRINCIPLES OF STATE POLICY

Minimum Wages

Act,1948

Foreign Exchange Regulatio

n Act (FERA), 1973

Industrial disputes

Act,1947

These refer to the principles which the government should keep in mind while framing the laws . Articles 39 to 51 contain various directive principles and are enshrined in Part IV of the constitution. All these provisions guide government policies towards facilitating productive business environment and economic activities.

The Indian government has so far enacted a number of acts and policies keeping in view the directive principles which are directly related to commerce.

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.

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.

CONCLUSIONLegal aspect of business empowers the government to

intervene in business activities. The basis of this intervention is to protect the interest of workers employed in firms, industries

and other institutions. Fundamental rights and directive principles of state policies as given in the constitution of India

thrust the responsibility of regulating the economy and safeguarding the interests of affected parties on the Indian

government.Thus, the legal aspect of business environment plays a big hand

in influencing the trade and commerce of a particular region.

THANK YOU!