Profit maximization can't be basis of allocation: SC - NewsX

Supreme Court today said that auction cannot be the only method for allocating natural resources and profit maximisation cannot be only basis for allocating natural resources. The SC bench further said that 2G verdict was confined to allocation of spectrum and has not laid down any rule for other resources. It made clear that allocation of natural resources is a policy decision which should be backed by social and welfare measures. Apex court says it cannot prescribe or proscribe method of allocation of natural resources but can undertake judicial scrutiny on case to case basis.

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