New Delhi: Praising the Narendra Modi government, Infosys founder NR Narayana Murthy urged people to support the Prime Minister's endeavours. The Modi government will complete one year in office on May 26.
"I think there are a lot of good things happening and it is still too early to say. We must all be with the Prime Minister and support him. I think if we do things with a sense of efficiency we will make tremendous progress," Murthy said.
Demanding stable and transparent taxation regime, Murthy said retrospective taxes should not be levied.
Taxation policies should be "transparent, stable, easy to communicate, easy to understand and comply with and one that creates confidence about the government among tax payers and therefore collect maximum tax," he said.
"Such a tax policy should have three fundamental principles -- equity, certainty by not imposing taxes in an arbitrary manner and by not levying taxes in retrospective manner and by transparent method," he said.
The former Infosys chief said efficient land allocation will benefit society as a whole.
Delivering CCI lecture, he favoured that both port and airports should be ideally run by the private sector.
Asked about his advice to entrepreneurs who are burning investor cash with no profits, Murthy said, "In the case of new technologies the models are still evolving. There are models, especially in e-commerce that are being incubated and that people say would take a long gestation period for players in that area to become profitable."
He said that new companies also have important role models so there is a need to contemplate on these business models. "We will have to show some patience and see how these models evolve," Murthy said.
(With additional information from PTI)
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