Bhopal: Union Finance Minister Nirmala Sitharaman on Tuesday addressed concerns regarding taxes, explaining the necessity of funds to meet the country's challenges.
Sitharaman was addressing the 11th convocation of Indian Institute of Science Education and Research (IISER) in Bhopal.
"India didn't wait. The promises given in Paris (Paris Agreement) were fulfilled with our own money. There are times when being the finance minister, it doesn't give me motivation when I have to answer people about why our taxes are like this? Why can't we even be lower than this? I wish I can bring it down to almost nil. But India's challenges are severe and challenges will have to be overcome," the finance minister said.
Sitharaman also emphasised the need for extensive research in the field of data science. She highlighted the significance of Indian tradition in education, stretching from Banaras to Kerala, and urged students to contribute to society with their acquired knowledge.
During the event, she laid the foundation stone for an academic building at the institute and awarded degrees to 442 researchers. Madhya Pradesh Chief Minister Dr Mohan Yadav was also present.
While appealing to the scientist community to do more research on the storage of renewable energy, Sitharaman said the world has promised a lot of money towards transitioning from fossil fuel to renewable energy but that money is yet to come.
She said the government has heavily invested in scientific research.
"I seek a very learned crowd before me graduates, PhD holders, to understand India's challenges. I have taken the example of renewable energy, global energy as one of those sustainable sources of energy for a growing country like India," she said.
Sitharaman also urged scientists to develop batteries for the storage of the renewable energy as transition from fossil fuel to renewable energy has to be sustainable.
"The government is just not talking. It is putting money in R&D (research and development).. Money that is earned out of taxation. That's my job so I will tell you that. My job is to generate revenue but not troubling people, I will assure that. But, even with that money comes because we also need to fund research," Sitharaman said while seeking a reply from the gathering that should there be more money for research.
With PTI inputs