Unlike mathematics, physics and chemistry – economy and economics are not universal subjects due to the fact that economy is a complex product of different elements which are significantly different for different regions of earth. Promoting a common platform for ensuring uniformity in understanding of this region-sensitive/nation-sensitive subject is a fundamental mistake. Also, its measurement or assessment for projections or comparisons is a bigger mistake. Thus, misunderstanding and misapprehensions are mounting day-by-day throughout the globe. Therefore, the international community must put-off this fire to control further damage. Until we sort-out this issue, we cannot bring economics into discussion.

BTW!!It’s a great news that he is setting a VC fund.He is an icon not only in India but also his name creates waves on foreign shores.

Infosys has two products.
1. Finacle
2.

Unfortunately, professional jealousy and politics are debarring scientist NVSN Murthy from awards and rewards even though Norinomics by scientist Nori Murthy is the greatest gift to the people and nations of our world.

Nori Murthy had stuffed priceless and timeless philosophy in simple words and meticulously made it applicable to individuals, institutions and nations.

Further, he made his universal philosophy (Norinomics) profitable, peace-ensuring, progress-causing, readily adoptable, praiseworthy, award-worthy and worship-worthy too.

Thus, Nori Murthy certainly deserves institutional, national and international awards and rewards along with Nobel Laureate.

…… Annadhatha MK Rao, Economist, Age: 64

Interestingly, there is no evidence that John Nash had propounded a theory in his mother field (mathematics) like Scientist NVSN Murthy who propounded a theory in his mother field (metallurgy) as well as in economics.
Therefore, Scientist NVSN Murthy deserves two Nobel Laureates.

The concerned authorities must look into the matter and do justice to this double-theory scientist of Indian origin. Neglecting Indians is improper.

Annadhatha MK Rao, Economist, Age: 65

At least, let us be selfishness enough to adopt the priceless recommendations of our candle-like scientist NVSN Murthy for providing peace, progress and prosperity to individuals, institutions and nation.

Annadhatha MK Rao, Economist, Age: 65

Therefore, let us make our laws / rules / regulations / procedures relevant to our nation since the needs, problems, priorities and culture of different nations are different.

NVSN Murthy, Research Scientist and a temporary visitor on earth currently passing through Asian soil.

NVSN Murthy, Research Scientist and a temporary visitor on earth currently passing through Asian soil.

NVSN Murthy, Research Scientist and a temporary visitor on earth currently passing through Asian soil.

This is the only secret of his success.

NVSN Murthy, Scientist and a temporary visitor on earth.

By: Annadhatha MK Rao, Economist, Age: 64

Therefore, employers must develop tools to measure performance and creativity essential to assess usefulness and wage-worthiness.

Employers ignoring these facts end up in recruiting non-contributors.

NVSN Murthy, Scientist
A temporary visitor on earth currently passing through Asian soil and attempting to promote new concepts and higher levels of competitiveness essential for effective development of people and nations of our mother planet earth.

Money, power, position, popularity, qualification, experience and age of a person are not measure-worthy since performance and contribution alone matters.

Changes and Challenges of Life on earth:

Only a change can change a change and change alone can challenge a change along with the inevitable uncertainties associated with very change. These are the real challenges of life for the present and future generations.

Commonsense is the essence of kinks of knowledge available to human beings on earth. Therefore, commonsense has become the most uncommon commodity of our world ever since the birth of earth. Unfortunately this priceless commodity is becoming more and more uncommon day-by-day, therefore due to its unavailability, we seldom apply this priceless commodity to solve problems.

Moreover, we prefer to design solutions that are more complex than the actual problem since it is profitable to us, finally, with vested interests we post a feeling that living with the problem is better than solving the problem.

Lastly – for reasons best known to all, we cleverly hide a fact that the best solution will be the simplest even for the most complicated problem of our world, since we are living in a politically polluted world, we need to understand and digest these naked facts since these facts are nothing but absolute truths.

NVSN Murthy
Independent Research Scientist.

A temporary visitor on earth currently passing through Indian soil, a scientist by profession, a researcher by addiction, an economist by accident, a reformist by obligation to the society, an analyst by interest, a poor man by fate, a social worker by choice, a servant to human life, animal life and plant life by preference, an engineer by selection, a traveller towards death by birth, a philosopher by time, a practicing poet by nature, a messenger for peace.

The number of Income Tax (IT) assesses can be reduced drastically from several crores to few thousands by making the employer responsible for collection of income tax at the source.

Thus, IT assessment for individuals can be eliminated. The same practice can also be extended to consultants, retainers and other professionals being hired by organizations.

Thus paperwork, paper consumption and forests can be saved.

Similarly, buyer must deduct Sales Tax at source for the goods bought by him. This system has numerous benefits and money flows directly from the source to the government without delay and loss.

Moreover, we do not need several names, departments and ACTs like: income tax, sales tax, service tax, excise, gift tax, wealth tax, luxury tax, entertainment tax, entry tax, exit tax, turnover tax, corporate tax, property tax, pollution tax, road tax, building tax, toll tax, development tax, land tax, education tax, cess etc. since everything is a tax and everything is going to the government.

Rename all these taxes as NATION BUILDING FUND (NBF) since it imparts patriotism in taxpayer and everyone feels proud in giving fund to the nation. This concept promotes national integration too. Since GDP is not available to the nation, let us concentrate on GNR (gross national revenue).

Let us appreciate the fact that simple rules are easy to follow, easy to implement, easy to monitor and easy to amend. If rules are simple and easy, the commercial activity increases and revenue collection increases.

Let us not discourage the commercial activity since it is the lifeline of the nation.

A sale is a sale whether within the state or outside the state since it is a sale within India. A sale is a sale whether goods or services. A sale is a sale whether first sale or second sale or tenth sale.

Services as an employee and services as a consultant / retainer cannot be two different things, hence put them on the same platform since employees and consultants are involved in selling their services.

Hence sales tax, service tax and income tax can be merged into one and it can be called as Nation Building Fund (NBF). This NBF need not exceed 2% of the gross sale value of goods or services if all exemptions, concessions and computations are eliminated for which, exempt none from income tax, sales tax, service tax, excise duty etc.

Most importantly, abolish all exemptions and concessions to EOUs, IT, BPO and Software units since all these units are making profits and utilizing infrastructure being provided by the nation.

Deduct all taxes at source. Abolish tax returns and tax refunds. Abolish all computations and calculations associated with all taxes since these computations and calculations are not helping the nation in any manner, on the other hand, these computations are helping the tax evader. Let us introduce computationless taxing structure. Thus, collect only 2% tax on the gross sale value of goods or services.

This concept increases national revenue by at least 400 per cent while drastically reducing paperwork, delays, corruption and tax evasion. It brings cheers to millions of employees, consultants, contractors, retailers, traders, merchants, entrepreneurs, industrialists, investors and businessmen. Thus there will be overall progress.

NVSN Murthy
Age: 57, Nationality: Indian, Profession: Independent Research Scientist.
A temporary visitor on earth currently passing through Indian soil, a scientist by profession, a researcher by addiction, an economist by accident, a reformist by obligation to the society, an analyst by interest, a poor man by fate, a social worker by choice, a dedicated servant to human life, animal life and plant life by preference, an engineer by selection, a traveller towards death by birth, a philosopher by time, a practicing poet by nature, a messenger for peace.