Socio Economic Offences: Nature and Dimensions

The concept of socio economic offences given by the 47th Law Commission Report in India is very important and needed to be discussed as in this report the salient features of these social and economic offences are discussed in a detailed manner. It could therefore, be submitted that socio-economic offences does not only extend the scope of the subject matter of white-collar crime, as conceived by Sutherland and as appreciated by others, but is also of wider import. The growth in socioeconomic crime is traced to the materialism and business competitiveness fostered by industrialization, coupled with a decline in the influence of religious ethics that demand material accomplishments while emphasizing honest and fair dealings with others. These factors influenced India after World War II, and India's criminal jurisprudence had limited opportunity to shape itself to counter the growing tide of socioeconomic crime. Currently, there are elements of a new criminal jurisprudence evidenced in legislation intended to regulate and control socioeconomic crime. This includes treating socioeconomic crimes as having strict liability, with curtailment or abandonment of the necessity to prove intent. Further, vicarious criminal liability, which involves the liability of a principal for the   acts of its agents, is being increasingly recognized. Sentencing for socioeconomic crimes is also becoming more severe, including mandatory minimum imprisonment, large fines, and the confiscation of goods and property. In addition to providing stronger deterrent elements for socioeconomic crime through more effective law enforcement, prosecution, and sentencing, the stigma attached to socioeconomic crime should be increased by raising the social consciousness against such crime through increased publicity about the trials and convictions of those accused of such crimes. Types of socioeconomic crimes committed in India are described in the different modules in this course.