The correct answer is: A. 1998
The Financial Emergency Management Act (FEMA) was enacted in India in 1998. It is a law that provides for the management of financial emergencies in the country. The Act empowers the government to take certain measures, such as imposing restrictions on the use of money, to deal with a financial emergency.
The Act was enacted in response to the economic crisis that India faced in the late 1990s. The crisis was caused by a number of factors, including the collapse of the Asian financial markets and the depreciation of the Indian rupee. The crisis led to a severe shortage of foreign exchange and a sharp decline in economic activity.
The FEMA was designed to help the government to manage the crisis and to prevent a recurrence of such a crisis in the future. The Act has been successful in achieving these objectives. The Indian economy has since recovered from the crisis and is now one of the fastest growing economies in the world.
The FEMA is a complex law and its provisions are not always easy to understand. However, it is an important law that has played a significant role in the development of the Indian economy.
Option B, 2000, is incorrect because the FEMA was enacted in 1998.
Option C, 2001, is incorrect because the FEMA was enacted in 1998.
Option D, 2008, is incorrect because the FEMA was enacted in 1998.