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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Will fight those who installed 'fake' Parashurama statue: Karkala Congress leader
Karkala: Town Municipality member and Congress spokesperson Shubhada Rao has accused the Bharatiya Janata Party (BJP) of duping citizens by installing a fibre glass statue of warrior-sage Parashurama at the new theme park in Karkala despite claiming that a bronze statue would be installed there.
Addressing a meeting held at the Bailuru Marigudi Hall on Saturday by the Karkala Parashurama Theme Park Welfare Committee demanding the installation of a bronze statue of the sage at the new park on the Umikal hills at Bailuru town, Rao clarified that the Congress had never opposed the development of the theme park or the installation of a statue of Parashurama at the park, but had expressed dissatisfaction at the BJP replacing the bronze statue meant to be used at the park with a fibre glass statue. He added that Congress aimed to unveil the truth regarding the statue.
Calling Karkala MLA Sunil Kumar's claims about the support of 65 legislators to him whom he could bring to the Parashurama hill as a bluff, Rao said that he would meet the legislator in Bengaluru itself with documentary proof to show that the statue was 'fake'. He also challenged Sunil Kumar to face the truth about the theme park.
A video containing information on the theme park, the statue, the correspondence between the government and the district administration as well as the gram panchayat, in addition to the court order was presented at the meeting.
