Union Minister of State for Electronics and IT, Rajeev Chandrasekhar, emphasized the transformative approach of the Narendra Modi government in creating a framework of regulation for critical sectors like telecom. During a discussion at the ‘Mumbai Tech Week’, Chandrasekhar addressed the inadequacy of previous governments in regulating sectors, amid massive scams, and highlighted the open and transparent approach of the current government.
“The telecom sector had some of the biggest scams. So, there is also a healthy dose of cynicism and skepticism when the government talks about regulation because there is a feeling that regulation is either pushing for a particular agenda or pushing forward the need for the government or a politician to control,” Chandrasekhar stated. He further stressed on the consultative nature of the government’s approach to creating a framework of regulation, emphasizing the importance of all stakeholders coming together to create guardrails for the orderly growth of the economy.
The White Paper on Indian Economy, presented in the Lok Sabha by Finance Minister Nirmala Sitharaman, highlighted about 15 cases of corruption and scams during the 10-year rule of the Congress-led UPA government. The document specifically mentioned the 2G scam, which involved a potential loss of about Rs 1.76 lakh crore of revenue to the government.
This emphasizes the need for a transparent and consultative approach when it comes to regulating critical sectors, as highlighted by Chandrasekhar. The current government’s focus on creating a framework of regulation that involves all stakeholders is crucial for the orderly growth of the economy, especially in sectors like telecom that have been marred by massive scams in the past.
The open and transparent approach to regulation is aimed at avoiding chaos and ensuring the smooth and orderly growth of the economy, as stated by the Union Minister. This stands in stark contrast to the inadequately regulated critical sectors and massive scams that marred previous governments, as highlighted in the White Paper on Indian Economy.
In conclusion, the discussion at the ‘Mumbai Tech Week’ shed light on the government’s approach to regulation and the importance of a transparent and consultative framework for the orderly growth of critical sectors like telecom, in contrast to the inadequacies and massive scams of previous governments. The emphasis on stakeholder involvement and transparency is crucial for maintaining the integrity and growth of the economy.
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