'Wish I could bring down taxes to nil': FM Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman on Tuesday said at the 11th convocation ceremony at the Indian Institute of Science Education and Research in Bhopal that India’s challenges are too severe, hence, the taxes can’t be reduced or brought down.

Sitharaman said India needs to fund research & development to fulfil its commitment to energy transition and other futuristic projects, and her job as the finance minister was generating revenue and not troubling people.

She also added that she wished the taxes could be brought down to almost nil.

Sitharaman said, “My job is generating revenue, but not troubling people I assure you.” 

She said that India cannot afford to wait for money that will come from somewhere else. 

Sitharaman remarked, “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 why our taxes are like this. Why can't we even be lower than this?” 

Sitharaman urged IISER students to innovate for India's progress and climate solutions. She assured that tax revenue funds research and development, citing the Anusandhan Kosh initiative.

She emphasised the importance of renewable energy and highlighted India's strides in space research and 5G implementation. 

She expressed confidence in BSNL's transition to 5G and emphasised India's independent development of 5G technology.

Social Media Reaction:

Online users are finding FM Nirmala Sitharaman's recent statements tough to believe.

One user wrote, "Her job is also to take care of the people from whom she is raising this revenue, as they are not from the peasant class who are serving Kings and Noblemen but citizens, she would have done a better job if new revenue sources were developed and government spending was done frugally, rather than just taxing the salaried class more."

Another user commented, "If not answering to the point was a sports, Nirmala Sitharaman would've won us Olympics gold. Who is asking you to make tax NIL?"