Do you know what Narayan Murthy says about demonetisation?
Kolkata: Describing himself as "not an expert on economics", Infosys co-founder and India's IT industry doyen N R Narayana Murthy on Wednesday said he could not understand the logic behind the Narendra Modi government's note ban move in November 2016, particularly when it remonetised the monetary system with same or even higher denomination currency notes.
He, however, felt the demonetisation move was largely welcomed by rural people but not by the urban intellectual.
"Though I am not expert, but as a lay person I saw that when, for some reason, old notes were demonetised, the government introduced new notes pretty quickly of the same denomination and even of higher denomination. Only an expert can answer why this happened. I cannot understand... you should talk to experts," Murthy said at an interactive session with the students of Presidency University here.
Murthy further said, "I am not an expert in economics but I saw that urban intellectuals did not buy the idea of demonetisation, but a majority of rural Indians seemed to have welcomed it."
Emphasising on striking a balance between automation and human beings, he said: "We can take a decision...we will not follow automation up to certain level of our manufacture or services."
Murthy also stressed upon the transformation of culture and mindset of people of India before the economic transformation.
"There is a need for cultural transformation and that is more important than economic transformation. Unless there is cultural and mindset transformation, economic transformation cannot take place," he said.
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Adequate LPG stock in Chhattisgarh, no need to panic, says CM Sai
Raipur (PTI): Amid reports of shortage of commercial LPG cylinder in several parts of the country due to the US-Israel-Iran conflict, Chhattisgarh Chief Minister Vishnu Deo Sai on Tuesday assured people that they need not worry about the availability of cooking gas in the state.
He asserted that adequate stock of LPG as well as petrol and diesel was available in the state.
Sai said in a statement that authorities have been directed to regularly monitor stock at gas agencies and keep a close watch on the supply chain. Necessary instructions were issued to officials in all districts to ensure a smooth supply of LPG.
The chief minister instructed officials to take strict action if any complaint of black marketing or hoarding of LPG cylinders is received.
Sai urged state residents not to pay attention to rumours and to book cooking gas cylinders as per their actual requirement.
The government was fully alert to ensure the availability of essential commodities to citizens, he emphasised.
Meanwhile, the Chhattisgarh Hotel and Restaurant Association has issued an advisory to hotels, restaurants, caterers and other food businesses across the state, urging them to maintain calm and avoid panic buying.
In the advisory, Taranjeet Singh Hora, president of the association, asked members to maintain coordination and immediately inform it about any major disruption in LPG supply.
He cautioned businesses against hoarding cylinders, saying such practices could worsen the situation for the entire hospitality sector.
The association advised hotels and restaurants to prioritise essential kitchen operations, core menu items and already committed banquet events.
Use electric cooking equipment wherever possible for emergency and staff kitchens such as induction cooktops, electric hot plates, electric rice cookers and kettles, the advisory stated.
