New Delhi: Can someone's private property be taken for public welfare? The Supreme Court's decision has come on this matter. The Supreme Court has said that every private property cannot be called community property. Private property should be reviewed in public interest. The Supreme Court bench has overturned the previous order by majority vote.
What decision did the Supreme Court give?
The Chief Justice has decided in the majority decision that not every private property can be considered as community physical resources. The government can consider only certain resources as community resources and use them for public benefit, not all resources.
The bench, by a majority, rejected Justice Krishna Iyer's previous judgment which had held that all privately owned resources could be acquired by the state. On this matter, the Supreme Court said that in the 1960s and 70s there was an inclination towards socialist economy. But from the 1990s onwards the focus shifted towards a market-oriented economy.
The Supreme Court said that the direction of India's economy is different from any particular type of economy. Rather, its objective is to face the emerging challenges of the developing country. In the decision, the Supreme Court said that by adopting dynamic economic policy in the last 30 years, India has become the fastest growing economy in the world. The Supreme Court said that it does not agree with Justice Iyer's philosophy that every property, including the property of private individuals, can be called community resource.
The Constitution Bench of 9 judges of the Supreme Court gave its verdict
Image Credit: India-Tv.