भारतात बहुराष्ट्रीय कंपन्यांचे कार्य नियंत्रित करण्यासाठी 1973 मध्ये कोणता कायदा जाहीर करण्यात आला आणि 1 जानेवारी 1974 पासून तो खऱ्या अर्थाने कार्यान्वीत झाला ?

The correct answer is Option D (FERA (Foreign Exchange Regulation Act)).

Key Points:
• Correct Option Evaluation: The correct answer is option (4) FERA (Foreign Exchange Regulation Act).
• Foreign Exchange Regulation Act (FERA), 1973:
• Enactment & Objective: FERA was enacted in 1973 and came into force on January 1, 1974, with the explicit objective of regulating foreign exchange transactions, conserving foreign exchange reserves, and strictly controlling the operations, equity holdings, and foreign capital inflows of Multinational Corporations (MNCs) in India.
• Analysis of Other Options:
• FEMA (Option 1) replaced FERA later in 1999 under economic reforms to *manage* (rather than strictly regulate/penalize) foreign exchange in a liberalized setting.
• FRBMA (Option 2) relates to fiscal deficit management.
• IDRA (Option 3) regulates domestic industries.
• Exam Insight: FERA's stringent controls were relaxed post-1991 when India transitioned from a controlled regime to globalization.
• Key Takeaway: FERA was promulgated in 1973 and came into force on Jan 1, 1974, to regulate foreign exchange and MNC operations.