Bhopal. Union Finance Minister Nirmala Sitharaman on Tuesday justified the current taxation system, saying the country needs funds to meet challenges and for research and development activities. Sitharaman was addressing the 11th convocation of the Indian Institute of Science Education and Research (IISER) in Bhopal. Urging the scientific community to do more research on storing renewable energy, Sitharaman said the world has promised a lot of money for the transition from fossil fuels to renewable energy, but it is yet to come.
The Finance Minister said, “But India did not wait. The promises made in Paris (Paris Agreement) were fulfilled with our own money. Many times as a Finance Minister I have to answer people why our taxes are like this? Why can’t we reduce it even further? I wish I could bring it down to almost zero. But India’s challenges are serious and have to be overcome.” He said that the government has invested heavily in scientific research.
She said, “I want to have in front of me graduates, PhD holders who are very learned people who understand the challenges of India. I take the example of renewable energy as one of those sustainable sources of energy for a developing country like India.” Urging scientists to come up with innovations, she said India is moving from fossil fuels to renewable energy with its own strength as the country cannot wait for money from elsewhere. Sitharaman also urged scientists to develop batteries for storing renewable energy as the shift from fossil fuels to renewable energy should be sustainable.
“The government is not just talking. It is investing in research and development (R&D)…money earned from taxes. This is my job. My job is to generate revenue, not to harass people. We need money for research,” the finance minister said, asking the gathering if there should be more money for research. Madhya Pradesh Chief Minister Mohan Yadav, Bhopal Lok Sabha MP Alok Sharma and other dignitaries were present during the convocation.