Punishment of criminal conspiracy is defined under section 120B of ipc. Provisions under IPC section 120B explained here:

What is Section 120B IPC:

1.Whoever is a party to a criminal conspiracy to commit an offence punishable with death, imprisonment for life or rigorous imprisonment for a term of two years or upwards, shall, where no express provision is made in this Code for the punishment of such a conspiracy, be punished in the same manner as if he had abetted such offence.

2.Whoever is a party to a criminal conspiracy other than a criminal conspiracy to commit an offence punishable as aforesaid shall be punished with imprisonment of either description for a term not exceeding six months, or with fine or with both.

Section 120B IPC Explanation:

1. Whoever is a party to the criminal conspiracy for the offence punishable with death, imprisonment for life or rigorous imprisonment for a term of two years or more will be punished in the same manner as if he/she had abetted such offence in case there is no express provision provided.
2. Whoever is a party to a criminal conspiracy other than the offence punishable with aforementioned punishment then he/she will be punished will imprisonment for a term not exceeding six months or with fine or with fine and imprisonment both.