An Interactive Session with Mr. Jayant Sinha

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At the Interactive Session with Mr. Jayant Sinha, Hon’ble Minister of State for Civil Aviation, Government of India, organized by theIndian Chamber of Commerce (ICC) at The Oberoi Grand, Kolkata today, Hon’ble Minister opined that with over 7% GDP growth and 3-4% inflation rate, Indian economy is in a very robust shape right now. India is implementing an inflation targeting regime through its monetary policy, he mentioned, and its tax reform has ensured a uniform and simplified tax structure across the country, making it easier for SMEs to file GST returns. Mr. Sinha felt that Insolvency and Bankruptcy Code (IBC) has changed the relationship between creditors and debtors, which has led to a reduction in default cases and lowered the corporate borrowing costs.  Hon’ble Minister also mentioned that India is witnessing fast infrastructure developments. Rate of highway development has doubled while airport construction has increased from 1 airport per year to 5-6 airports per year in the last five years, he stated. He informed that new terminals are coming up and number of aircrafts in the sky has increased significantly.

Mr. Jayant Sinha highlighted the achievement of Government of India in social sector reform. He commented that through Direct Benefit Transfer (DBT), Government has been able to save over Rs. 1 crore per year. Through Ayushman Bharat Yojana, India has ensured medical treatment for poor and deprived families upto Rs. 5 lakh per year, which he felt, is a milestone to achieve the vision of universal health coverage.
Mr. Mayank Jalan, Senior Vice President, ICC, Chairman & Managing Director, Keventer Agro in his Welcome Address lauded the initiatives of Mr. Jayant Sinha in the Ministry of Finance and later in Ministry of Civil Aviation, which has transformed India's aviation ecosystem with 50 months of unprecedented double digit passenger growth. He mentioned that Indian aviation sector is fastest growing in the world and India is expected to become the world's third largest air travel market by 2024. 
Mr. Rishabh Kothari, Core Committee Member – ICC Young leaders Forum (YLF) & Founder, Jewels & Co. delivered the formal Vote Of Thanks.

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