Bengaluru: The Government will put in place a less prescriptive and more principle-based and comprehensive legal framework for catalysing India’s Techade and to build a trillion-dollar economy, Minister of State for Electronics and IT, Rajeev Chandrasekhar, said on Thursday January 19.
The Government is working on a comprehensive legal framework that will include legislations like the proposed Digital Personal Data Protection Bill, the National Data Governance Framework, the amended IT Rules, and the upcoming Digital India Act — which will be less prescriptive and more principle-based to enable and support a vibrant startup and innovation ecosystem,” Chandrasekhar said while addressing the Itech Law International Conference 2023 in Bengaluru.
The conference focused on the broad spectrum of expertise in the field of technology law.
Stating that the Government has always held stakeholders’ views as important, the minister said, “The efficacy, implementation and acceptance of any bill or legislation is as good as how many minds come together to help in its draft. Our effort has been to involve as many stakeholders as possible in the process of law making. It is the government’s legislation as much as it’s the stakeholders’ legislation.”
In reply to a query about cryptocurrency, the minister said there is no issue with crypto unless all laws and rules of the land are followed.
“There is nothing today that outlaws crypto as long as you follow the legal process. If you want to invest in crypto, make sure you go through the RBI, get your LRS eligibility etc. as per the rules.”