Sitharaman underscores need for balancing ecological preservation with development

Shillong: Union Finance Minister Nirmala Sitharaman on Saturday underscored the need to balance ecological preservation with the aspirations of development, particularly in regions like Meghalaya.

Speaking at an interactive session in Shillong, she acknowledged that the climate crisis has intensified to the point where even the best meteorological tools cannot predict weather patterns accurately.

"Extreme weather events have become the norm. Flash floods and intense rains, which used to be spread across months, are now occurring in a single day, causing immense damage to people and property," the Finance minister said.

Pointing to the changing dynamics in rural and forested regions, she emphasised the necessity of modern infrastructure.

"We need optical fiber for connectivity, and global exposure through digital tools so that artisans and farmers can market their products. This implies expanding into areas that have remained green for millennia," she said.

Sitharaman stressed that decisions about development in ecologically sensitive regions should be locally driven.

"It is not for me to say from elsewhere that a region should remain untouched. People living there must decide how much development they are comfortable with, and where to draw the line," she said.

She posed a critical question: "If development is denied entirely, will people who have remained unchanged for generations, and now aspire to a better life, be content?".

She added that this debate is central not just in India, but across the globe.

Highlighting the urgency of the issue, the Union Finance minister said that the next global climate summit will be held in a remote area on the edge of the Amazon rainforest in Brazil—underscoring how the world is now bringing the conversation of climate and development directly to the most fragile ecosystems.

"This is a deeply critical discussion," Sitharaman said, adding that "I'm glad it began here this morning."

The Union Finance minister also emphasised the importance of collaboration between citizens, industry, and policymakers.

She said dialogues are essential for crafting effective and locally relevant development strategies and reaffirmed the Centre's unwavering commitment to inclusive, participatory, and region-specific governance during a stakeholder interaction held here.

Sitharaman said the Union government is actively working to simplify tax frameworks and enhance the accessibility of financial systems to ensure broader participation and transparency.

She urged stakeholders to continue engaging constructively and advised that "sector-specific proposals and regional concerns be routed through the concerned ministries and the Ministry for Development of North Eastern Region (DoNER) for timely evaluation and follow-up action."

"The government remains committed to participatory policy-making and we are continuously working to make financial systems more accessible and efficient for all stakeholders," she assured.

The Union Finance minister felicitated Rimiful Shylla and Wanjoplin, two of Meghalaya's top women taxpayers, applauding their commendable contributions to the nation's tax system.

During the interaction, stakeholders shared a wide range of observations and suggestions with the Finance minister.

They highlighted the need for a balanced approach to development that respects environmental sustainability. Suggestions were made to enhance support for institutions involved in research and development and to give greater policy focus to the hospitality sector.

Participants urged for the inclusion of local industries under the Targeted Champion Sector Scheme and advocated for better access to credit and markets for startups and MSMEs, particularly those rooted in the Northeast.

They also stressed the importance of central investment in infrastructure to accelerate regional industrial growth.

Additionally, concerns were raised over high logistics costs resulting from the region's geographical challenges, with calls for rationalised transport subsidies to improve competitiveness.

Sitharaman in her replies, reiterated the Centre's resolve to work in close partnership with state governments and local stakeholders to realise a shared vision for a prosperous, sustainable, and innovation-driven Northeast.

The Union Finance minister is on a four-day visit to Meghalaya from Thursday.