Software industry luminary NR Narayana Murthy emphasized that “nothing should be given free” and proposed that individuals benefiting from government services and subsidies should contribute back to society for its improvement.
The Infosys co-founder argued for a form of compassionate capitalism as the key to transforming a poor country like India into a prosperous nation.
Murthy suggested that services and subsidies provided by the government should come with reciprocal responsibilities, citing an example where free electricity could be provided in exchange for improved attendance in schools.
He emphasized the need for citizens to contribute toward building a better society and urged caution against providing unconditional free services. During a fireside chat at the Bengaluru Tech Summit 2023, Murthy also discussed the appropriate level of taxation, acknowledging the necessity of higher taxation in a country like India with a large population of poor individuals.
He pointed out that compassionate capitalism, based on free markets and entrepreneurship, is the most effective solution for poverty alleviation. Murthy recommended studying China’s economic model and learning from its successes to accelerate India’s progress and reduce poverty.
Additionally, he commended the National Education Policy and called for collaborative efforts among political parties, intellectuals, academics, and corporate leaders to enhance foreign direct investments and address practical challenges.
To improve Bengaluru, Murthy suggested focusing on good public governance, establishing more English medium schools, and expediting infrastructure development, including the completion of metro services to Electronic City.
