Explain in brief the important functions played by the Ministry of Finance, the Ministry of Corporate Affairs and the Ministry of Law and Justice in enforcing the law in India.

The Ministry of Finance • The Ministry of Finance (Vitta Mantralaya) is a Ministry within the Government of India concerned with the economy of India, serving as the Treasury of India. • In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget. • One of the important functions of the Finance Ministry is the presentation of the Union Budget. This annual event is eagerly awaited by professionals and the common man as it provides for the rates of taxes and budget allocations for the ensuing year. The Ministry of Corporate Affairs – Same as Ans No. 1 The Ministry of Law and Justice • The Ministry of Law and Justice in the Government of India is a Cabinet Ministry • It deals with the ➢ management of the legal affairs, through the Department of Legal Affairs ➢ legislative activities through the Legislative Department ➢ administration of justice in India through the Department of Justice • The Department of Legal Affairs is concerned with advising the various Ministries of the Central Government while the Legislative Department is concerned with drafting of principal legislation for the Central Government.