MARIJUANA REGULATION

NEWS: The United States Department of Justiceà Moved to reclassify marijuana from Schedule I to Schedule III under the Controlled Substances Act.

ABOUT

• Legal Scopeà Reclassification does not legalise recreational or medical marijuana at the federal level.
• Drug AssessmentàIt recognises marijuana’s medical utility and lower abuse potential than Schedule I drugs such as heroin
• Business ImpactàThe change is expected to ease tax burdens and improve funding and banking access for cannabis firms.

Marijuana Regulation in India

• The Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985à Criminalises the consumption and sale of cannabis resin and flowers.
• Bhang Exceptionà Cannabis leaves+ seeds= excluded from the legal definition of cannabis, permitting traditional bhang use.
• Licensed Ayurvedic manufacturersà Produce and sell cannabis-leaf extracts as medicine with a valid doctor’s prescription.
• Hemp Licensingà State governments can grant licences for low-tetrahydrocannabinol (THC) industrial hemp cultivation for fibre and seed production.
• PenaltiesàFor illegal possession are weight-based, ranging from six months for small quantities to twenty years for commercial quantities.