Correct Option: B

The Bonded Labour System (Abolition) Act, 1976 was enacted to provide for the abolition of bonded labour system with a view to prevent the economic and physical exploitation of the weaker sections of the society. It freed all the bonded labourers from bondage with simultaneous liquidation of their debts. It made the practice of bondage a cognisable offence punishable by law. The Act is being administered and implemented by the Ministry of Labour and the State governments concerned.