Commenting on the action by the Central Bureau of Investigation, Kris Gopalakrishnan, President, CII said, "While it is absolutely within CBI's rights to proceed against any person to ensure that the law of the land is preserved, irrespective of the stature of the person, it is desirable to ensure that all facts of the case are laid upfront before proceeding against respected and reputed individuals."
Commenting on the underlying issue of allocation of natural resources, the CII has said that there is no one method which applies to all natural resources, when it comes to pricing and allocation.
However, every effort must be made to ensure that the process followed for a particular kind of natural resource ensures that there is no human discretion possible, even while ensuring that the national interests are given supremacy, the CII said.
The process of coal block allocation has to be such that there is no scope for discretionary decision making.
"Reputations of institutions and individuals take years to build and therefore, extreme caution needs to be exercised before any action is taken, which jeopardizes reputation that institutions and individuals build for themselves," said Gopalakrishnan.
"Every effort should be made to ensure that there is no atmosphere of fear created, when it comes to decision making. Swift decisions and transparent policy environment are pre requisites of an enabling business climate. This is best done if the Government and Industry work together. Industry should not feel discouraged to interface with senior Government functionaries on issues that need attention of the Government," Gopalakrishnan concluded.
--IBNS (Posted on 18-10-2013)