1. We should all be celebrating, Narayana Murthy

We should all be celebrating, Narayana Murthy

Terming the government decision to demonetise Rs 500 and Rs 1,000 bank notes as a "good move", IT czar N R Narayana Murthy today said one should be celebrating as the move would address issues like black money, corruption, and also promote digital economy.

By: | Bengaluru | Published: November 11, 2016 2:42 AM
Terming the government decision to demonetise Rs 500 and Rs 1,000 bank notes as a "good move", IT czar N R Narayana Murthy today said one should be celebrating as the move would address issues like black money, corruption, and also promote digital economy. (PTI) Terming the government decision to demonetise Rs 500 and Rs 1,000 bank notes as a “good move”, IT czar N R Narayana Murthy today said one should be celebrating as the move would address issues like black money, corruption, and also promote digital economy. (PTI)

Terming the government decision to demonetise Rs 500 and Rs 1,000 bank notes as a “good move”, IT czar N R Narayana Murthy today said one should be celebrating as the move would address issues like black money, corruption, and also promote digital economy.

“…I think it’s a good thing. It brings down black money, corruption….and in some form, it is an incentive for people to use the digital economy,” Murthy told reporters in response to a question on government’s decision to demonetise Rs 500 and Rs 1,000 currency notes.

“So, on all the three dimensions it’s a good move….I think we should all be celebrating,” he added.

Taking the nation by surprise, Prime Minister Narendra Modi on Tuesday had announced the demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight, making these currency papers invalid. PTI KSU RA KK BN JM 11102046

Not wishing to make any direct response to the question about possible impact on the Indian IT sector with Donald Trump’s election as the next President of the United States, Murthy exuded confidence about the leaders of the industry to overcome challenges.

“You can use innovation and be prepared to find the  alternative solution, should such an eventuality come into play…have confidence in Indian industry leaders…”Murthy said in response to a question.

He said “I’m not saying this will not happen or this  will happen. All that I’m saying is the leaders of our  Industry are smart people, they will find appropriate  solution, and the country and the industry will continue to go  from strength to strength.”

Trump, during his campaign, had advocated tightening  of visa norms for skilled workers and bringing jobs back to  America.

There has been feeling that Trump coming to power  could lead to job losses for Indians and a protectionist  approach by the US, a market that accounts for about 70 per  cent of the Indian IT industry revenue.

Just a day ahead of the elections he had accused US  tech giant IBM of laying off 500 workers in Minneapolis and  shifting their jobs to India and other countries as he warned  of levying a 35 per cent tax on companies doing so if he is  elected.

“I’m very very confident that we will find solution. God is not finished with us. These are all smart  people, they will all find good solution,” Murthy said.

Murthy had yesterday said that the US had a chance to  create history by electing Hillary Clinton but added that  Trump will do what is best for his country.

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