Prasad placed emphasis on the need for a transparent system to ensure the nation's overall development.
"The days of lobbying and favouritism are over. I have told my officers very clearly and categorically to work with courage and in a transparent manner. As a minister, I will stand with them," said Prasad.
Prasad said that government would ensure that spectrum sharing, trading and enlargement were all being carried out in a fully transparent manner for country's growth in technology.
"My government will ensure that spectrum sharing, spectrum trading; spectrum enlargement all must be done in a transparent way with twin objective in mind. One is consumer welfare and number two is country's growth in mobile telephony," he said.
Prasad said the government is focused on establishing a stable fiscal regime.
"We want a clear and stable fiscal regime. The government has been repeatedly sharing its concerns that retroactive taxation is something which needs to be avoided, but as far as resolution is concerned, the finance ministry is looking at that," he added.