Nirmala Sitharaman Urges Science Community To Do More Research On Storage Of Renewable Energy
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.
Union Finance Minister Nirmala Sitharaman on Tuesday justified the present taxation regime. She said that the country needs resources to meet the challenges facing the nation and also to fund research and development activities.
Addressing the 11th convocation of the Indian Institute of Science Education and Research in Bhopal, Sitharaman appealed to the science community to do more research on the storage of renewable energy. She said the world had promised a lot of money towards transitioning from fossil fuel to renewable energy but that adequate funds are yet to come.
"But 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.
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.
Urging scientists to come up with innovations, she said India is moving from fossil fuel to renewable energy on the merits of its own funds and efforts as the country cannot afford to wait for money from somewhere else.
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.
Madhya Pradesh Chief Minister Mohan Yadav, Bhopal Lok Sabha MP Alok Sharma and other dignitaries were present during the convocation.
(With inputs From PTI)
