BEING the Minister for Company Law Affairs in the United Progressive Alliance Government, headed by Manmohan Singh, is no small challenge. Prem Chand Gupta, who was himself an industrialist, that is several years ago before he entered politics, understands the challenges and is determined to bring about a revolution in corporate world. His first priority in this task is to change the present company ethics through suitable amendments.

A vegetarian, who prefers mostly to have simple home-made food, was born in Bhiwani in Haryana. However, he represented Bihar in the last Lok Sabha election considering Laloo Prasad Yadav as his inspiration and role model in politics. In an interaction with The Day After Editor Sunil Dang and Think Tank Director Yogendra Bali, he spelt out his priorities and political assessment of the ministerial responsibility he holds.

The minister pointed out that the company affairs, despite of its great importance, was just a department for years. It was a department of the Law Ministry or Finance Ministry. Once it was also a part of the Commerce Ministry headed by Marasoli Maran. But Prime Minister Manmohan Singh has given it the status and recognition of a full-fledged ministry.

Asked if that was a recognition of the corporate sector in the present economic development scheme, the minister crisply responded that in the present global economic scenario, the company affairs and the corporate affairs had become very important. He pointed out that earlier the corporate affairs were not very big issues and nobody would like to be associated with the corporate affairs. He said, "Our finance ministers and prime ministers used to have some kind of reluctance to go to the meetings of the chambers of commerce. Now it is not there. The situation has changed".

Addressing the issue that half the time the corporate sector was at war with the government and half the time asking for some kind of favours, the minister for company affairs pointed out that all the big and developed nations in the world like the United States and even the United Kingdom recognised the importance of the corporate sector in economy and cooperated and interacted with it. He insisted that "a balanced policy is necessary in this respect and that is the policy our government is maintaining. I think that is the right thing to do. You see, during the NDA government regime, India was shining only on paper and for only a particular segment of the society. So, they had to pay a very heavy price. India will shine only when our farmers and poor are happy. So the government has to maintain a balance."

Asked where were his eyesights trained as a "commander of the corporate sector" appointed by the UPA Government to pursue two of the most important objectives of the common minimum programme — jobs generation and poverty alleviation, the minister made his position clear. He said, "This ministry is not here to direct the corporate sector what to do and what not to do. The business decisions are theirs. We are not there to interfere in these affairs. But so far as our UPA government is concerned, balanced development and minimisation of regional imbalances is our aim. That would generate jobs and help alleviate poverty. The Railways, for instance, has introduced the kulhar culture and handloom furnishings for the train that would generate jobs and help fight poverty."

Replying to a question whether it was a sort of going back to Gandhi Ji, the minister said, "Not just that, going back to Gandhi ji, which was of course good. Even some people have criticised us saying that we are trying to take the country thirty or forty years back. But that is not true. You see by introducing kulhars, khadi or handlooms, we will not be taking India back to thirty and forty years. It is going to take India forward. You see lakhs and lakhs of people, poor artisans will benefit and find sustenance. Our villagers will get the jobs. There are lakhs of families of clay potters. They will have avenues of jobs and earnings. The handloom and khadi workers will get jobs and opportunities. That will take India forward.

When the minister was reminded the contrast between the NDA and the UPA catchwords "Indian Shining" and "India Forward", and was pointedly asked "How would you take India forward?", he replied "You see, if you have balanced growth, removing regional imbalances, India will really go forward. So, our politics will be balanced in growth, with regional balance and not regional imbalance.

The minister was told that while he talked of regional balances, he would have realised that there were great expectations from the backward regions of the North East and neglected states like Bihar who expected special economic packages. What were his views on the ‘packages’ demands? He said it was not just the word packages. In fact, what Bihar is asking or what the North East is asking will create infrastructure in the states at par with other states. So, if you have infrastructure, the industry will go there. Will you go to a state to set up industry where there is no infrastructure? These states were ignored for 55 years.

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