In April 2014, Prasad resigned as Professor of Economics from the University of the South Pacific to pursue a political career.

Prasad subsequently became the Shadow Minister for Finance, Planning and National Statistics and Chairman of the Parliamentary Public Accounts Committee.

[11] In 2015 he led an unsuccessful attempt to revoke the controversial media decree, which limited freedom of the press.

[12][13] He also called for the government to lift its entry ban on Fijian historian Brij Lal, who had been forced into exile in Australia.

[14] In September 2016 he was one of a group of opposition MPs arrested after attending an NGO meeting to discuss the military-imposed constitution.

[22] On 25 July 2021 Prasad was arrested by Fijian police after criticising government moves to amend land legislation.

[24] The director of public prosecutions subsequently refused to lay charges,[25] and criticised police for not investigating the alleged incident properly.