He also said there are tremendous growth opportunities for domestic airlines and they are expected to have a fleet of 1,200 planes in five years.
The minister lamented that unfortunately, road safety is considered something that comes once a year.
Speaking at the event, renowned cricketer Kapil Dev said, “There is no cricketer in India who has not been touched by his compassion.
This is critical because growth in industrial production remains muted despite the overall economic recovery, Assocham Secretary General pointed.
The government created a 25-acre pond on the floodplains of the Yamuna to retain floodwater and installed 33 piezometers to ascertain the rise in groundwater levels.
Shukla noted that in the last five years, the (Insolvency and Bankruptcy) code has achieved a lot, but it is still the beginning.
The trade body also cautioned that an over-reaction by the banks and the investigative agencies would hurt essential credit disbursement to the trade and industry.
Assocham that PSBs should then be allowed to function on the lines of private sector lenders with a full sense of accountability to their shareholders
An important take away from the current political-economic environment is that the Goods and Services Tax is expected to be further streamlined and rates rationalised on the lower side.
Infrastructure and transportation like road and railway sectors should be exempted from GST, as projects in this segment witness long gestation period and negative returns, Assocham said.
Assocham said existing assessees have not yet migrated to the GSTN portal due to reasons like non-familiarity with IT tools as well as registration process. It cited server maintenance issues too.