Law Minister Kapil Sibal on Monday said a fine balance of private and public good has to be maintained in allocation of natural resources which may involve some scope for judgmental discretion and scope for malpractices in the implementation of policies.
Delivering his keynote address at the international conference organised by CBI, Sibal said the government is the sovereign guardian and custodian of natural resources of a country and exploitation of these natural resources is necessary for deriving value and creation of economic wealth.
"In doing so, the government has to ensure that the exploitation of natural resources is consistent with the twin objectives of protecting the larger public good and the ecology and the environment.
"However, for emerging economies, this is easier said than done: as the latest technologies for the exploitation of most natural resources are monopolistically held by large multinational corporations," he said.
The Law Minister said that in framing policies for exploitation of natural resources, the government has to strike a fine balance between private and public good.
"There may, therefore, be some scope for judgmental discretion and scope for malpractices in the implementation of policies. Anti-corruption agencies thus need to build better understanding of the nuances of policy implementation and decision making," he said.
Expressing concern over use of internet by hate-mongers, Sibal said there is a need to have a legislative response to this issue.
"As much as we respect freedom of expression, we also respect the freedom of everyone to go about his or her business without hindrance," he said.
On the issue of allegations of fixing in sports, Sibal said time has come for India to examine the need for a specific law and a 360-degree vision to deal with the problem while protecting the essence of sports and sportsmanship.