The Truth About Taxes in India - Infosys Founder Narayana Murthy

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Channel credit - Bengaluru Tech Summit
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Nikhil Kamath - Co-founder of Zerodha, True Beacon and Gruhas
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[@Sirrajj]

First we need a transparent system that shows crystal clear where taxpayers money is going cause a large amount goes in buying resorts, media houses & opposition ministers, unknown election funding... Corruption is still very prevalent as it was but now they're good at hiding

[@manavjain9648]

A very great suggestion by NRM . Govt should definitely start rationing of people who are poor by situation and not by choice. Making sure that they are making choices good enough to bring them out of poverty like slacking off people from govt benefits who are having more than 2 children,having more than 3 cases against them,having 3+ penalties in last one year,not having healthcheckup atleast once a year,marrying their children too early etc.

[@try650]

Really a good suggestion ❤

[@ashishkgp]

Hey Nikhil, can you please invite the market research analysts from different VC firms and companies with the topic : When you're starting a company, how do you conduct the market research, how to you arrive at those numbers, what is the process, where do you get data from, etc. This would be really helpful

[@MHD00887]

Wow What an upgrade...from tan may 🚮 to Shri Naraynmurthy🔥....

[@ashishmurali9047]

To assume that 800mn people in India can't afford two square meals is a joke. I know people who hold BPL ration cards and live in double storied Homes. India is always projected to be a low income country but in reality India is probably the richest country in terms of hidden camera in wealth.

[@viktrancestudio6398]

That doesnt matter if less than 6 crore people out of 1.5 Billion actually pay taxes. You can have all hidden wealth you want but if government doesn't get taxes, they dont have money for public services such as hospitals, schools, roads, railway, etc. Country as a whole will be considered poor.

[@SRaviKiranM]

By paying higher taxes, a person who is not eligible for these freebies and public services, what is he or she getting in return ?

[@SubhadeepDas]

He doesn't have a problem in paying higher taxes because he is a billionaire who makes millions in just dividends. To apply that perspective to middle class earners is just so short sighted.

[@oneearthan]

Higher taxes should come with low corruption and less tax evasion by all. People will pay higher taxes if they also get some services. If the majority of taxes end up as corruption money for politicians and babus, and govt employees going on Foreign vacations on Travel allowance, thats corruption.

[@AmitGodara-k8j]

I think the reason our country has a lower per capita gdp, is because most of the people are consumers not creators of products , services and commodities.

[@nishant115me]

the reason we have low per capita GDP is because we had a really bad population explosion, and since we are a democracy we cannot replicate china.

[@MihirSanjayYadav]

Even 1.5x sounds like 0.5x

[@ahaansinghshorts5151]

Right sir Government should make it mandatory in return for betterment of the society

[@austingamer6756]

i had to watch this at 2x speed lol

[@rainman2543]

TikTok certified brain

[@himanshuutube]

1.5x

[@thewhitene9746]

Happens when you have short attention span. A product of shorts and tiktok.

[@MrBoris414]

Yeahhh

[@jeeveshghatode9070]

Same

[@gubgub1]

Supporting the people in need is ok. But some ground rules should be put in place - not unlimited children, no unlawful activity etc. I also feel people getting subsidy should be by default to be included in the ITR register. A better way would be to create a central workforce database where they can register and employer's can use it. Now govt. can include a minimum support, if someone is unable to get a job.

[@punjabisher727]

Sir at least raise salary of your employees so that India could have good per capita income

[@MAC-vi7fy]

Everyone must read about Laffar's law. Income as percentage of govt revenue remains the same always no matter the tax rate. So low tax rate never hurts an economy.

[@yashwardhansable5187]

That is not correct, I have read it, it is maximization of expectation value of a given function. It dictates that there is an optimal value of tax rate which maximizes govt revenue. It does not say that govt. revenue stays the same no matter the tax rate.

[@blue_jerry]

Taxpayers' money is not going helping poor people, rather it is going towards the ST/SC, OBC caste people. Either remove the caste-based system and divert the money to low-income people or Provide Privilege to the taxpayers and invest those money to create new jobs for poor people, not on freebies.

[@NotNPC32]

Agree 💯

[@Bjorn-en7hb]

LOL 😂 tax money doesn't go to any people, it goes into the politicians and bureaucrats pockets 😮

[@vaibhavrahangdale8756]

😂

[@Shivakumar-td4cz]

As if SC ST OBC are not paying any taxes.

[@shylendrasuvarna6003]

Dalith, shoodra, a BEGGER in India, paying tax, GST for everything. No one is doing favour to poor, all favors enjoyed by Rich.

[@anilprasanna]

India is not a poor country murthy. Your business model of sucking 98 % commission from end client dollars and making indians slog for 70 hours a work and giving peanut salary of 25 thousand rupees per month has made india a poor country. Even in that you will snatch 600 rupees forcibly to fund your wife sudha murthy charity. What a shame. When your employee dies in USA, Infosys does not even reimburse death certificate cost and says they are not in the business of transporting dead bodies. I had to take help from NGO and repatriate my cousin in laws body to india for his wife to complete final rites.

[@shylendrasuvarna6003]

👌👌👌👌👍

[@anirudh425]

He is talking about whole India, not to a frustrated infosys employee, there are still huge population who earn less than that

[@rizzy_edits]

so what, you get what you are worth. If you dont like the company leave it, nobody is forcing them to stay there. Oh let me guess, you arent getting any job that pays you higher than they are. Also their economics is based on quantity, if they have 1 crore rupees rather than giving it to 4 individuals they divide it to 40 individuals. I dont think 90% of people are worth 25 lakhs, so they should be grateful they are atleast getting a job

[@SubhadeepDas]

People are definitely not getting what they are worth. They're getting a much lower wage. If you compare our work standards to western countries, it is a complete joke, even when you take purchasing power parity into account.​@@rizzy_edits

[@mohneeshgarg8706]

If you have a good name doesn’t mean you are right always, Just ask the salaried man about the pain of paying taxes. Narayan murthy sir is old now, their dopamine will release by giving to the society. So I completely understand from where are they coming from.

[@W4D199]

Best wishes. Ashneer Grover has already given better and to the point solution of this high taxation issue. If Prime Minister is saying he will provide free shtuffs shitt.. ,it means he is not paying the cost from his own pocket but from the pockets of hardworking skilled peoples who feel sad when they are giving decent amount of income cut for free ...😮

[@marcuswilley9809]

Govt needs to keep everyone happy. Because if poor are happy then only rich can remain happy. The day poor of India [80-90%] start behaving badly (resorting to crime, protests etc) the rich will feel the pain. The police will also be helpless. So one famous guy said , State is the march of God on earth, just believe that and don’t challenge the wisdom of state every now and then.

[@nicksharma7859]

​@@marcuswilley9809 Agree

[@tuhinjamespaul8910]

🙏Kindly do a Pharma Industry and Medical Device Industry podcast.

[@ankk98]

Thats good. Subsidies should directly or indirectly help the country move forward in a measurable metric.

[@amolsk9]

Nobody talks about population control. Increase population and ask for your share is the only business left in this country. People having 1 or 2 kids will work like slave and pay for free education and free food for those producing 4 6 kids

[@srikantamaharana6333]

Ultimate points...salute this man....awesome target to think and implement with harsh punishment if not obeyed.... nonsense people and our general thoughts...

[@rocks7688]

Ek Bharat Ek Sarkar, No Taxes 🎈🌹

[@co0lman_]

Need a Pharma and healthcare podcast

[@tuhinjamespaul8910]

Absolutely..

[@me.atul10]

Just now I paid ₹7k GST for ₹32k TV!

[@vivekv1718]

Giving freebies will only lead to ask for more freebies. The freebie seekers will vote for fiscally terrible government and spoil what good is there already for hard working people. Every citizen must first remove this ask for freebies etc in their minds and work for their improvements in education and income. NRN's suggestions look great to say and hear but practically not implementable as there is no way accountability that can be extracted.

[@shylendrasuvarna6003]

Freebees to industrialists, loan wave to business tycoons doesn't effect us 😄

[@vivekv1718]

@@shylendrasuvarna6003 Show me the freebies and loan wavier to businesses. The businesses are generating employment, taking debt backed by real assets and not those beggars who sell their votes for free electricity, biriyani. If you refer to Mallya, they're Congress stooges.

[@ankushmukherjee3219]

​@@shylendrasuvarna6003educate yourself of fiscally irresponsible govts consequences

[@NijilNj]

Infosis dont have to pay sales tax because they export service, its tax exempted On top they earn huge money in the form of export incentives from indian government . So he is not the one to answer this

[@abhiwins123]

Did you Read Infosys financial report? Business create jobs for people, on business got giving taxes, write this down - business creates Avenue for tomorrows taxes today.

[@NijilNj]

@@abhiwins123 gov looting salaried employees of his company wont be his consern , whats your point

[@abhiwins123]

@@NijilNj When you talk like communist, there is no recourse

[@shylendrasuvarna6003]

Just see the land 1200+ acres, they got at peanut rate, and not even 10% land utilized since several decades.

[@SubhadeepDas]

​@@abhiwins123yes just automatically label people as communist without giving any real arguments. Great job!

[@marcuswilley9809]

Capitalists should be the last people to talk of betterment of society. 😂😂

[@nishant115me]

the irony is capitalism has been the only method proved to be effective enough to build relatively successful societies. When you get money by being capitalist, you can decide to spend on social causes.

[@parthmodi531]

I am not from future I can see thousands of People writing an long essay

[@anupjain7457]

Sir if we do as you say then those folks won't vote for the good government. And that's not good for middle & upper class folks. Please comment on this perspective.

[@prithvikantibandyopadhyay6516]

Tax everyone, middle class is not the only earning part of India. This taxation spiel is the same across governments.

[@AbidAhmed786]

Great 👍🏾

[@atharvsuryawanshi402]

sir said absolutuly correct things

[@kaustubharolkar5098]

These POOR people should not be allowed to have kids.. They are doing nothing but adding extra burden to society as they are not able take care of themselves how are they going to handle the extra expenses of kids.

[@Gauravbedii]

true

[@shylendrasuvarna6003]

Stop taking gst from poor, why country need their blood and swet. Narayana Moorthy alone is not there🙏, in Infosys. Thousands of poor youth working there in his company 😂

[@hussainmasta4300]

he is the person(nrm) who opposes the hiking of tax on rich in 2015.....and honestly there should be some low tax on citizen are we are a poor country(again by NRM)

[@MrSatadal]

where is the option of 3x? 😮

[@Shivakumar-td4cz]

Only rich people have the right to speak. They will tell what others should do. As if you guys were not there India would not be there.

[@shylendrasuvarna6003]

Mentality 😭

[@rizzy_edits]

yea because that's partially true. 60% of govermant revenue comews from taxes. And the most of that portion comes from the higher section of the society. If the rich dont pay the taxes there would be a crisis. Govermant wont be able to provide the services to lower class and many will die of starvation. Also they have the right to speak after doing so much for the country while all poor people are busy in eating food for free from their hard earned money

[@raghav4608]

We always demand accountability from the poor and weak, while overlooking the powerful and mighty. Let's reverse this equation and see if Mr. Murthy would accept the same scrutiny. For every rupee spent on electoral bonds, what benefits does the company receive from the ruling party? For every rupee paid in taxes, both direct and indirect, how do our politicians allocate and spend them without any leakage or corruption? For every subsidy and sop granted to industrialists through initiatives like SEZs and loan waivers, what contributions are they making to society? For every rupee of public funding invested in institutions like IITs and IIMs, which successful founders have benefited from, how much are they voluntarily contributing to the development of schools and universities to nurture the nation's youth? Has Mr. Murthy posed tough questions to the ruling party, either in the past when his business interests were at stake or in the present, regarding similar levels of accountability? There is no doubt that he has built an empire that employs a significant number of people, and credit should be given where it's due. However, his success in business does not necessarily make him infallible on this particular topic.

[@pawananimus]

Watch 1.5x.welcome

[@SkyLoreking]

One capable guy in position of Power is more than enough to change our nation into a developed High income nation in 2 to 3 decades of time Effective reforms are always comes top to down

[@saurabhvyas8486]

When a govt in india 🇮🇳has to give freebies, 80Cr feeding, 1200-3000/- per month in there account....... So we are low income country. Only few, rather handful people are paying taxes. And every other individual is paying taxes everyday......

[@shylendrasuvarna6003]

Not handful, even BEGGER also paying GST in India

[@kuldeeppensalwar2369]

He is doing tax free business (dollar business) and giving lecture to pay higher taxs to tax payers.

[@chaitanyavoolapalli1731]

Same logic could be applied to reservations too.

[@ahhhhhhhhhhhhhhhhhh123]

He just made up the thing about "middle income countries". India has been one for a while as it's per capita is between $1,136 and $13,845 which is the definition of middle income. And on a PPP basis India is fast approaching 10k. No idea what he's talking about, India is a middle income economy. At worst lower middle income but still middle income.

[@natrajc4423]

You r wrong

[@badrinarayan91]

Selfish comments like this are the root cause for rich states - Punjab, Maharashtra, Tamilnadu consideing separation from India Bharat. High tax compared to which countries? USA, GERMANY, UK, ALL EUROPE, all developed countries have way higher taxation. He is conveniently comparing India to tiny, business economies like Singapore, Israel (which also receive huge subsidies from USA )... This is unfair.

[@badrinarayan91]

en.m.wikipedia.org/wiki/List_of_countries_by_tax_rates

[@vinaykarthik2485]

This man is happy to pay taxes 💀,(using low quality stuff these days)

[@theexposer9483]

We have 800 million people who will not work for next 5 years, it will increase cost of manpower and average productivity of person in india will become lowest in the world. The taxpayer will be looted to feed the bums in Bharat. This will ensure BJP to remain in power. Till now other politicians would make promises which was not possible to fulfill. So it saved the free loot, but now there is competition among politicians to give free free free. Nobody will object, judges will just keep quite because they are going to get free perks till they die, so better keep quite do not touch the apple chart.

[@umeshnaidu]

How wrong is the understanding of Narayan Murthy on the free bus or free electricity schemes being given to citizens... He rightly pointed out we are still a poor country...the money saved by households on these free stuff they actually use it for betterment of their child's future...yes he should also have said that govts should drastically improve primary education system for children to learn better and build their future

[@shylendrasuvarna6003]

His stumoch is full, so now he doesn't known the meaning of poverty

[@shylendrasuvarna6003]

ಸರಕಾರಗಳಿಂದ ಚಿಲ್ಲರೆ ಹಣಕ್ಕೆ ಸಾವಿರಾರು ಎಕ್ಕರೆ ಭೂಮಿ. ದೇಶ ಪ್ರೇಮ 😭

[@doncorleone3901]

How many acres for how much per acre in what year? Without providing this information you come across as a pathetic troll

[@ahhhhhhhhhhhhhhhhhh123]

Damn this entire video is full of his false assumptions, as a share of GDP last time I checked India's tax rate was very low. France is like above 35% but India was in the 10%s. And India's tax to GDP ratio I think is lower than peers like China, Indonesia, Thailand. If anything there needs to be a wider tax base and crackdown on not paying

[@rocks7688]

As per wiki🌹 India is at no 139 in world per capita income. Very Poor country, impossible to fix it.😂😂

[@ChetanDubal]

Nothing is given free.. they get paid in votes😅

[@aryanmoksha]

Mr Moorty ..go fund soros ..don't lecture people

[@mohitnikumbh593]

We should refrain from using politically motivated statements (like free ration to 800M people for next 5 years) while discussing economics. If we cap our taxes to 20%, how should we fund our federal budget? Income from tax collection is about 60% of our budget. If we want to even think about decreasing taxes for the ones who are paying it, we have to either drastically decrease trade deficit, take on more debt, decrease government spending or increase national consumption, none of which are possible in not short term.

[@MohitGoyal707]

or we can remove incentives for several classes of people, who earn alot but dont pay enough tax or tax at all.

[@shylendrasuvarna6003]

Till when, the revenue collected in Maharashtra and Karnataka, can be spent on northern states?? Let our poor people get the benefits

[@jyothidhareddy4890]

2x seems like 1x

[@AmitRelester]

🤣