Next is No. 388 of Prof. K. T. Shah. The question is: “That in amendment No. 369 of List VII (Seventh Week), at the end of clause (1) of the proposed article 24, the following proviso be added :-“Provided that no rights of absolute property shall be allowed to or recognised in any individual partnership firm, or joint stock company in any form of natural wealth, inch as land, forests, mines and minerals, waters of rivers, lakes or was surrounding the coasts of the Union; and-that ultimate ownership in these forms of natural wealth shall always be deemed to vest in and belong to the people of India collectively; and that they shall be owned, worked, managed or developed by collective enterprise only, eliminating altogether the profit motive from all such enterprise’.” The amendment was negatived.
