Addressing the 26th edition of the Bengaluru Tech Summit 2023, Infosys co-founder N R Narayana Murthy voiced his disapproval of freebies and urged individuals availing government services at subsidized rates to contribute back to society. He emphasized the concept of “compassionate capitalism” as crucial for India’s prosperity and suggested that when the government provides services or subsidies, recipients should be willing to contribute in return.
During his speech, Murthy highlighted the need for a reciprocal arrangement when offering services or subsidies. For instance, if the government provides free electricity, he suggested linking it to specific social outcomes, such as an increase in attendance at primary and middle schools. Murthy acknowledged that he is not against free services, understanding the importance of support for those in need, but emphasized the importance of recipients taking responsibility for the future generation.
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Expressing his views on taxation, Murthy mentioned that for India to have efficient, corruption-free, and effective public goods, taxation would need to be higher than in developed countries. He conveyed his willingness to pay a higher level of taxation for the greater good.
In his address, Murthy drew attention to China’s economic progress, underscoring the need for Indian political leaders to study and learn from China’s successes. He encouraged the implementation of positive aspects from China to propel India’s advancement and reduce poverty. Murthy’s remarks aimed at fostering a sense of responsibility among individuals benefiting from government initiatives, contributing to the nation’s overall growth and development.
