Union Finance Minister Advocates for Sustainable Development in Meghalaya

Balancing Development and Ecology

Shillong, Jul 12: On Saturday, Union Finance Minister Nirmala Sitharaman highlighted the importance of harmonizing ecological conservation with developmental goals, especially in regions like Meghalaya.

During an interactive session in Shillong, she recognized the escalating climate crisis, noting that even advanced meteorological tools are struggling to accurately forecast weather patterns.

“Extreme weather occurrences have become commonplace. Flash floods and heavy rainfall, which were once spread over several months, now happen in just one day, leading to significant destruction of lives and property,” Sitharaman remarked.

She pointed out the evolving conditions in rural and forested areas, emphasizing the need for modern infrastructure.

“We require optical fiber for better connectivity and global exposure through digital platforms, enabling artisans and farmers to market their goods. This means venturing into regions that have remained untouched for centuries,” she stated.

Sitharaman stressed that development decisions in ecologically sensitive areas should be guided by local communities. “It is not my place to dictate from afar that a region should remain untouched. The residents must determine how much development they are willing to accept and where to set boundaries,” she explained.

She posed a thought-provoking question: “If development is completely denied, will those who have lived unchanged for generations be satisfied with their lives, especially when they aspire for better?” This discussion, she noted, is not only relevant to India but resonates globally.

Emphasizing the urgency of the matter, the Finance Minister mentioned that the upcoming global climate summit will take place in a remote area near the Amazon rainforest in Brazil, highlighting the direct link between climate and development discussions and fragile ecosystems.

“This is a critically important dialogue,” Sitharaman remarked, expressing her satisfaction that it commenced in Shillong.

She underscored the necessity for collaboration among citizens, industries, and policymakers, stating that dialogues are vital for developing effective and locally relevant strategies. She reaffirmed the government's commitment to inclusive, participatory, and region-specific governance during the stakeholder meeting.

Sitharaman also indicated that the Union Government is working to simplify tax regulations and improve access to financial systems to foster broader participation and transparency. She encouraged stakeholders to engage constructively and suggested that “sector-specific proposals and regional issues be directed through the relevant ministries and the Ministry for Development of North Eastern Region (DoNER) for prompt evaluation and action.”

“The government is dedicated to participatory policy-making and is continuously striving to enhance the accessibility and efficiency of financial systems for all stakeholders,” she assured.

The Union Finance Minister recognized Rimiful Shylla and Wanjoplin, two of Meghalaya’s leading women taxpayers, commending their significant contributions to the nation’s tax framework.

During the interaction, stakeholders presented a variety of insights and recommendations to Sitharaman, emphasizing the need for a balanced approach to development that prioritizes environmental sustainability. They suggested increasing support for research and development institutions and focusing more on the hospitality sector.

Participants advocated for the inclusion of local industries in the Targeted Champion Sector Scheme and called for improved access to credit and markets for startups and MSMEs, particularly those based in the Northeast.

They also highlighted the necessity of central investment in infrastructure to boost regional industrial growth, raising concerns about high logistics costs due to geographical challenges and calling for rationalized transport subsidies to enhance competitiveness.

In her responses, Sitharaman reiterated the Centre’s commitment to collaborating closely with state governments and local stakeholders to achieve a shared vision for a prosperous, sustainable, and innovation-driven Northeast.

The Union Finance Minister is on a four-day visit to Meghalaya starting Thursday.