Bengaluru: Infosys Co-Founder N R Narayana Murthy asked the government to create a free atmosphere for entrepreneurs to create jobs and opportunities to create wealth and pay more tax.
“Creating a free atmosphere for entrepreneurs is the foremost step to ensure prosperity of the country. As entrepreneurs create jobs and opportunities, we can create wealth and pay more tax,” Murthy said.
Murthy said this while addressing tax officials on the occasion of GST Day 2019 organised by the central tax goods and services tax department to mark the second anniversary of the roll out of the tax.
Compared to advanced nations, India’s tax-GDP ratio is still low at 18 per cent, Murthy said.
He also laid emphasis on discipline among tax payers and enforcers.
Lauding steps taken by Narendra Modi in his first term as the Prime Minister, Murthy said Startup India, Standup India has encouraged entrepreneurs a great deal.
He, however, pitched for more reforms at the state level as bureaucratic hassles were still persisting.
Advising the youth, Murthy asked them to work like the Chinese, who almost work for 20 hours a day.
Murthy also laid stress on earning goodwill of the society to be a successful company.
“A corporation cannot survive without the goodwill of society, which is its biggest stakeholder. Ask a question to yourself before making a decision — whether it would get the support and respect of the society or not. If the answer is yes, you will never go wrong,” he said.