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Business News/ Companies / People/  Narayana Murthy opposes freebies, says ‘If you provide subsidies, there must be..’
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Narayana Murthy opposes freebies, says ‘If you provide subsidies, there must be..’

Infosys founder NR Narayana Murthy calls for a different approach on freebies, suggesting that people availing government services and subsidies should contribute back to society.

Recently, Narayana Murthy opposed government freebies and said that nothing should be given for freePremium
Recently, Narayana Murthy opposed government freebies and said that nothing should be given for free

Calling for a different approach to freebies, Infosys founder NR Narayana Murthy said that "nothing should be given free". People availing government services and subsidies should be made to contribute back to the betterment of society, suggested the IT veteran.

Also Read: 'Narayana Murthy's 70-hour work week vs Bill Gates' 3-day working': Shashi Tharoor finds solution. See post

He also advocated for capitalism and regarded it as the only solution for a poor country like India to become prosperous. 

"When you provide those services, when you provide those subsidies, there must be something in return that they're willing to do. For example, if you say -- I will give you free electricity, then it would have been a very nice thing for the government to have said, but we want to see the percentage attendance in primary schools and middle schools go up by 20 percent, then only we will give you that," Narayana Murthy said at the 26th edition of Bengaluru Tech Summit 2023 on Wednesday.

Also Read: Infosys founder Narayana Murthy calls for $1 billion annual spend on school teachers

After presenting his idea, Murthy made it clear that he was not against free services being provided and stressed the importance of these subsidies for the poor and underprivileged. 

Also Read: Narayana Murthy reveals why he founded Infosys: 'It was an experiment in...'

 "I am not against free services being provided. I fully understand, as I also came from a poor background once upon a time. But I think we should expect something in return from those people who received those free subsidies to take a slightly bigger responsibility towards making their future generation, their own children and grandchildren, better in terms of going to school, you know, performing better. That's what I mean," he added.

Also Read: From 60 hours in 2020, Narayana Murthy now suggests a 70-hour work week for youngsters: Where will he go next?

Apart from giving his views on capitalism, freebies, Murthy suggested that in a developing country like India it is obvious to have higher taxation compared to developed countries.

"In order to create efficient, corruption-free and effective public goods in our country, the taxation will have to be obviously higher than what you see in developed countries. So, I personally would not at all grudge, if I have to pay a higher level of taxation," he said.

Murthy pointed out that a per capita GDP of USD 2,300 puts India about twice that of what is called "low income countries" by the United Nations and other bodies and said, "we are still far away from being called a middle income country where the per capita GDP is somewhere between USD 6,000 to about 12,000 to 15,000." Explaining about his transformation from being a strong leftist to a "determined compassionate capitalist", he said compassionate capitalism is the only solution for a poor country like India to become prosperous and not socialism and communism.

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Published: 30 Nov 2023, 04:40 PM IST
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