Finance Minister Nirmala SitharamanImage credit source: PTI
Union Finance Minister Nirmala Sitharaman wants the country to be completely tax-free, but the country still faces many challenges. She expressed her wish at the 11th convocation of the Indian Institute of Science Education and Research (IISER) in Bhopal. Justifying the existing tax system on Tuesday, she said the country needs money to meet challenges and for research and development activities. She said many times being the Finance Minister, I have to answer people why are our taxes like this? Why can’t we do even less? I wish I could bring it down to almost zero. But India’s challenges are serious and need to be overcome.
Where does the money go?
She said the government has invested a lot in scientific research. Sitharaman said the world has promised a lot of money for the transition from fossil fuels to renewable energy but this is yet to come. The Finance Minister said that but India did not wait. The promises made in Paris (Paris Agreement) were fulfilled with our own money. She said I want to have in front of me very educated people, graduates and PhDs, who understand India’s challenges. I take the example of renewable energy as one such sustainable source of energy for a developing country like India.
Renewable energy should be cheap
Urging scientists to come up with innovations, she said India is moving from fossil fuels to renewable energy on its own as the country cannot expect money from elsewhere. Sitharaman also urged scientists to develop batteries to store renewable energy as the transition from fossil fuels to renewable energy needs to be sustainable. The Finance Minister asked the gathering: Should there be more money for research?
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It’s not my job to harass people
He said the government is not just talking. It is investing money in Research and Development (R&D) – money earned through taxes. This is my job. My job is to generate revenue, not to harass people. We need money for research. Madhya Pradesh Chief Minister Mohan Yadav, Bhopal Lok Sabha MP Alok Sharma and other dignitaries were present during the convocation ceremony.
