Cut red-tape for 8% growth, says Narayana Murthy

Infosys Chief Mentor NR Narayana Murthy on Friday said rupee appreciation was a macro economic issue and called upon corporates to become more efficient, productive and reduce costs.

"I am not worried about factors which are out of my control. It is a macro economic issue," he told reporters on the sidelines of the launch of the Abdul Latif Jamal Poverty Action Lab (J-Pal) in Chennai.

"We have to become more efficient, productive and reduce costs," he said. Earlier, speaking at the launch, he said the country had to go in for massive human resource development programme to eradicate poverty. Successful models should be scaled up and replicated to alleviate poverty.

India had to play a critical role in doing away with poverty. "If India can't do it, the world can't," he said adding organisations like J-Pal had tremendous responsibility on their shoulders in this regard.

He said economic reforms had created a strong middle class in the last 16 years, but there was an uneven flow of benefit and clear divide between the urban and rural economy.

Narayana Murthy, quoting a Goldman Sachs report that India can sustain eight per cent growth till 2020, said, "It will be possible only if we cut the red-tape in the country."

He called for more transparency in the public administration system. "The government should support education and healthcare and organisations like J-Pal provide transparent and efficient database on policies," he said. "Such ventures should scale up faster and should be replicated," he added.