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.
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.
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.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
