Infosys founder Narayana Murthy also talked about the ongoing rift between the central government and the Reserve Bank of India (RBI), and said that both parties - the RBI and the government - are doing "what is legitimately their mandate".
Infosys co-founder N R Narayana Murthy showered praises on the Prime Minister Narendra Modi for introducing and executing major reforms such as Goods and Service Tax (GST), and for being the driving force behind the economic growth of the country. In an interview with ET NOW, Murthy also complimented PM Narendra Modi and his cabinet for working ‘very hard’ in reducing corruption at the central level.
“I broadly feel that PM has led a strong economic progress minded government. We cannot hold PM responsible for execution, it is the bureaucracy that has to do it,” Murthy said when asked about the execution and implementation of the key reforms including GST and the Insolvency and Bankruptcy Code (IBC).
Further, he said that having a prime minister focused on economic growth and discipline is a good thing, adding continuity is a good thing for the economy.
He also talked about the ongoing rift between the central government and the Reserve Bank of India (RBI), as well as other institutions. While stressing on the need to strengthen institutional autonomy, Murthy said that both the parties – RBI and the government – are doing “what is legitimately their mandate” and they will come to a solution.
Meanwhile, while talking about the government’s focus on building statues and temples, instead of development, he said that these are not the points of concern for him.
Apart from this, Murthy recently said that new technologies like machine learning, automation and Internet of Things (IoT) can help in accelerating growth for businesses in India if used intelligently and in an assertive manner. He also stressed on the point that enterprises should focus on providing training to youths in the country on these technologies.
Narayana Murthy, a man who created a symbol of India’s information technology glory way back in 1981, served Infosys CEO from 1981 to 2002 and as chairman from 2002 to 2011.