New Delhi, May 21 (IANS): Assessing the first year of the NDA government, Infosys co-founder N.R.Narayana Murthy said on Wednesday that Prime Minister Narendra Modi should be supported in his endeavours.

"We have a PM who is enthusiastic and working hard. People, all parties, the opposition should rally behind him. I think a lot of good things have happened but it's still early to say. Therefore, we must all be with the PM and support him," Murthy said here delivering the sixth annual lecture of the Competition Commission of India.

"We should all rally behind him. I mean individuals, political parties, those in opposition, bureaucrats at state level and central level, corporate houses, academic institutions everyone. If we provide support, then I think we can move fast," he added.

He said every bureaucrat must reflect on what he or she did so as to reduce the friction between government and business.

Equally important for business is a "corruption-free judiciary" which is also updated and holds the knowledge of the global best practices in legal matters, Murthy said.

"And if we continue to do things with the sense of efficiency, then I'm sure we will make some progress," he added.

On the government's taxation policies, he said these should be "transparent, stable, easy to communicate, easy to understand and comply with and one that creates confidence about the government among tax payers and therefore collect maximum tax".

"Such a tax policy should have three fundamental principles - equity, certainty by not imposing taxes in an arbitrary manner and by not levying taxes in retrospective manner and by transparent method," he added.