Making a case for “compassionate capitalism”, Infosys co-founder NR Narayana Murthy on Wednesday said the Government should ensure smooth functioning for businesses and entrepreneurs through measures like clear taxation laws to enable creation of more jobs and wealth.
“This economic system (compassionate capitalism) requires commitment from the corporate governance system and public governance system,” Murthy said at the 22nd lal Bahadur Shastri Memorial lecture.
“... The Government should follow three fundamental systems, number one being move towards zero friction of businesses and for entrepreneurs so that more and more jobs and wealth can be created and more taxes can be collected.”
He added that simple, fair and internationally competitive tax and governance laws are required that are easy to understand and comply with.