Allow NRIs to stay in India for 182 days a year, instead of 120: Narayana Murthy

Speaking at the 14th Development Dialogue conference of the Deshpande Foundation in Hubballi Saturday, Murthy suggested that increasing the number of such days even up to 250 would have no negative impact on the country

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N R Narayana Murthy, co-founder of Infosys, has requested Union Finance Minister Nirmala Sitharaman to restore the previous policy that allowed Non-Resident Indians (NRIs) to stay in India for a maximum of 182 days a year, instead of the current 120 days.

Speaking at the 14th Development Dialogue conference of the Deshpande Foundation in Hubballi Saturday, Murthy suggested that increasing the number of such days even up to 250 would have no negative impact on the country but it would rather bring benefits, including more time with these valuable individuals and a positive impact on startups in India.

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“I have had umpteen debates with ministers in Atal Bihar Vajpayee and Manmohan Singh governments on how we should welcome NRIs with much respect and admiration,” he said.

He pointed out that reducing the stay from 182 to 120 days did not result in additional tax revenue. “NRIs from countries such as the Middle East, US, UK, Canada, Singapore and others visit India for less than 182 days in a financial year. The Finance Act 2020 reduced this period to 120 days in cases where the total taxable income in India is more than Rs 15 lakh. There is nothing wrong even if it is increased to 250 days,” he said.

Reiterating his request to the finance minister, political leaders and bureaucracy to warmly welcome NRIs, Murthy said they bring added value to the country and “do not ask for anything in return”.

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