New Delhi: Law Minister Salman Khurshid on Thursday welcomed as "very important" the Supreme Court order on a presidential reference and said it gave a "sound basis" for the government's policies on allocation of resources.

Responding to a presidential reference following the verdict on the 2G spectrum allocation, the Supreme Court on Thursday said the auction route was not the only method for allocating natural resources.

"It gives a sound basis for us having done what we have done, and in light of the pronouncement if we have to make changes, we will do so," Khurshid said.

Khurshid also said that he, along with Communications Minister Kapil Sibal and Finance Minister P Chidambaram, would "study the judgment and discuss the findings and take the matter forward”.

They would discuss the matter with Prime Minister Manmohan Singh, he said.

He described the ruling given by the five-judge Apex Court bench headed by Chief Justice SH Kapadia as a "legal pronouncement of the highest order of the land on a reference made by the president".

The bench said auction could be a better option where the aim is maximisation of revenue, but then "every method other than auction of natural resources cannot be shut down".

(Agencies)

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