1998 चा विदेशी विनिमय व्यवस्थापन कायदा या हेतूने करण्यात आला
अ. फेरा (FERA) कायद्यात बदल करणे.
ब. परकीय विनिमय व्यवस्थापन आणि विनिमय सुरक्षितता यावर भर देणे.
क. भारतीय अर्थव्यवस्थेचे आधुनिकीकरण करणे.
ड. भारतातील परकीय विनिमय बाजाराची देखभाल करणे.
वरीलपैकी कोणती विधाने बरोबर आहेत ?

The correct answer is Option D (a, b and d).

Key Points:
• The Foreign Exchange Management Act (FEMA) was passed in 1999 (introduced as a bill in 1998) and came into force on June 1, 2000, replacing the draconian Foreign Exchange Regulation Act (FERA) 1973.
• Analysis of Objectives:
• Statement (a) is correct: FEMA was explicitly enacted to replace and repeal the restrictive provisions of FERA.
• Statement (b) is correct: The fundamental philosophical shift was from strict *regulation/prohibition* under FERA to proactive *management* and facilitating external payments and dealings in foreign securities.
• Statement (d) is correct: The statutory preamble of FEMA specifies: "to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India".
• Statement (c) is a generic macro-level aspiration rather than a direct statutory objective of FEMA.
• Statements a, b, and d are directly consistent with the objectives, aligning with key option 4.
• Key Takeaway: FEMA replaced FERA to shift the paradigm from 'regulation and criminal prosecution' to 'facilitation and market maintenance'.