Indian Law And Economy

Step 1: Understanding the IT Act:
The Information Technology Act, commonly known as the IT Act, is the primary law in India dealing with cybercrime and electronic commerce. It provides legal recognition for transactions carried out by means of electronic data interchange and other means of electronic communication.

Step 2: Identifying the Year of Enactment:
The Indian Parliament passed the Information Technology Act, 2000, in May 2000. It was notified and came into effect on 17 October 2000. This Act was later amended by the IT (Amendment) Act of 2008.

Step 3: Final Answer:
The IT Act came into existence in the year 2000.