(a) परकीय चलन व्यवस्थापन कायदा (FEMA) ची जागा परकीय चलन नियमन कायदा (FERA) ने घेतली.
(b) फेमा कायद्याचे उद्दिष्ट परकीय चलनविषयक कायद्याचे बळकटीकरण करणे हे होते.
(c) फेमा कायद्याचे उद्दिष्ट हे परकीय चलन बाजाराचा पद्धतशीर विकास करणे हे होते.
पर्यायी उत्तरे :

The correct answer is Option B ((b) and (c) only are correct).

Key Points:
• Analysis of foreign exchange legislation in India:
• Statement (a) is INCORRECT: It is the exact reverse; the restrictive Foreign Exchange Regulation Act (FERA) of 1973 was replaced and repealed by the more liberal Foreign Exchange Management Act (FEMA) of 1999 (effective June 2000).
• Statement (b) is CORRECT: FEMA aimed at consolidating and amending laws relating to foreign exchange to facilitate external trade and payments.
• Statement (c) is CORRECT: FEMA aimed at promoting the orderly development and maintenance of the foreign exchange market in India.
• Therefore, statement (a) is wrong, while statements (b) and (c) are correct.
• Thus, '(b) and (c) only are correct', making Option (2) the right answer.
• Key Takeaway: FEMA (1999) replaced the older FERA (1973), with objectives to consolidate foreign exchange laws and promote orderly market development (b and c are correct).