Co-founder of Infosys, N. R. Narayana Murthy at the Tech Summit In Bengaluru expressed his view on freebies saying, “Nothing should be free.” He urges people taking free services from The Government like gas and ration with subsidized rates to give back to the community for availing these free services. This 2023 Bengaluru Tech Summit took place in the capital of Karnataka on 29th November which was the 26th edition of the summit.
Murthy says that “compassionate capitalism” is the only way for India to gain prosperity. Adding further he said, “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 per cent, then only we will give you that.”
Narayana Murthy explained that he is not against free service adding, “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 own future generation, their own children and grandchildren, better in terms of going to school, you know, performing better. That’s what I mean.”
But to create a corrupt-free country that is also efficient “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. “Narayana Murthy takes China’s economic GDP as an example which is 5 to 6 times higher than India to make his point. He said, “So all that I would humbly request our political leaders is to study China very very carefully, and then see what are the good things that we can learn from China and implement here, so that India too advances at the same pace as China, and becomes a nation that has reduced the poverty of its people.”