Include these points in your answers
- There should be no loss to the natural reserves of India
- There should not be undue benefit to any private party, no crony capitalism
- Proper plan for the dicoveries, the technology involved, profit sharing or the revenue sharing contract with the government to be finalised
- Rights of the private party after the discoveries to be properly laid out so that there is no litigation, afterwards
- What should be the method of audit? 3rd party audit is the best
- CAG audit to be done along with the CAs (ethical ones who will try to find out if the companies have deployed other CAs to find the loopholes in taxation laws of India)
- Fair competition among other private players ; for the exploration of oil and gas blocks, competition commission of India to lay down the rules and regulations
- Any PIL filed in the past to be considered while framing the rules.
- People living in the areas close to the basin should also be benefited
