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Section220
The Finance Act, 2016

Amendment of Preamble

In force As on 10 Oct 2026

Ministry Finance Enacted 27 Jun 2016 Cited by 1 provision

Section 220 of the Finance Act, 2016 deals with amendment of Preamble. Amendment of Preamble 220. In the Reserve Bank of India Act,1934 (herein referred to as the principal Act), in the Preamble, for paragraphs 2 and 3, the following paragraphs shall be substituted, namely:— "And WHEREAS it is essential to have a modern monetary policy framework to meet the challenge o The Act was enacted on 27 Jun 2016.

Amendment of Preamble

220. In the Reserve Bank of India Act,1934 (herein referred to as the principal Act), in the Preamble, for paragraphs 2 and 3, the following paragraphs shall be substituted, namely:—

"And WHEREAS it is essential to have a modern monetary policy framework to meet the challenge of an increasingly complex economy;

And WHEREAS the primary objective of the monetary policy is to maintain price stability while keeping in mind the objective of growth;

And WHEREAS the monetary policy framework in India shall be operated by the Reserve Bank of India;".

Section 220, The Finance Act, 2016.

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

Referred to by 1

  1. s. 90 Amendment of section 220

Questions about Section 220

What does Section 220 of the Finance Act deal with?

Section 220 of the Finance Act is headed "Amendment of Preamble". Amendment of Preamble 220. In the Reserve Bank of India Act,1934 (herein referred to as the principal Act), in the Preamble, for paragraphs 2 and 3, the following paragraphs shall be substituted, namely:— "And WHEREAS it is essential to have a modern monetary policy framework to meet the challenge o

How do I find court cases under Section 220 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2016 220, section 220 Finance Act 2016, section 220 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 220 of the Finance Act, and has it changed?

1 other provision in this corpus refers back to it.

When was Section 220 of the Finance Act enacted?

Section 220 of the Finance Act, cited as Finance Act 2016 220, was enacted on 27 Jun 2016. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.