There is a need for creating a national corpus to fund political parties to make the political process more transparent, Anand Sharma, according to Industry & Commerce Minister Anand Sharma.

Speaking on "Managing change: role of leadership & institutions" during an event organized by CII, Mr. Sharma said that funding political parties through a national corpus would bring more transparency in the country's political process.

He also disproved the perception of crony capitalism, terming it as untrue. He stressed that the perception formed with artificial colors of crony capitalism must not be sustained.

Speaking on the topic, he said, "I refute the perception created with theatrical colors of crony capitalism. This is untrue and it must not be sustained."

Elaborating on the theme given by the industry body, he pointed out that anomalies could be there but corrections do also take place. He added that leadership would have to adapt as well as innovate to meet new challenges.

Mr. Sharma also tried to defend the Congress-led UPA government from criticism over scams in natural resources by saying that the government was guided by the philosophy that natural resources should be shared to ensure a welfare state and not by the objective of profit maximization.