These are the countries in which it is easiest to do business

Peter Castro
November 1, 2017

"Hiding behind World Bank reports will not at alter this grim reality." he said.

World Bank report says, India is one country which is undertaking structural reforms.India jumps 30 ranks in World Bank's Ease of Doing business Report, takes a leap to 100 from 130 in doing business ranking. Indeed, the government was miffed at last year's ranking just showing an improvement of 1 spot (from 131 to 130).

The report pointed out that GST hadn't shown its full impact which will be visible in the next 2-3 years.

The Congress accused the Modi government of trying to hide behind World Bank reports to mask the "grim reality" regarding the economy and said Arun Jaitley has proved to be "the worst Finance Minister in India's history".

The parameters that witnessed improvement in 2016-17 were India making it faster for start business, reduction in procedures and time required to obtain building permit, easier access to credit, protecting minority investors, ease of paying taxes, trading across borders, enforcing contracts and making resolving insolvency easier, the World Bank said. This year we have moved up 53 places.

"Guided by the mantra of Reform, Perform & Transform we are determined to further improve our rankings & scale greater economic growth", he said in another tweet.

Azerbaijan, Turkey, Georgia inaugurate newly built Asia-Europe railway
Arslan said that the railway would add significant value to countries hosting the line and revive the regional economy. The link "will create completely new possibilities not only in our region but beyond".

She also added that India's improvement is the highest amount of improvement across any region and the world. The time to enforce a contract takes 1,445 days compared with 1,420 days 15 years ago and while starting a business takes 30 days compared with 127 days 15 years ago, local entrepreneurs still need to go through 12 procedures to start a business in Mumbai, much more than in OECD countries.

India on Tuesday made the highest jump ever by any nation in the World Bank's "Ease of Doing Business" and broke into the top 100 slot.

Banerjee, however, rued that one of the most important reforms - GST - has not been considered in this year's report owing to cut off date. The ranking comes as a shot in the arm for the Narendra Modi government amid dissenting voices in certain quarters about implementation of the Goods and Services Tax (GST) as well as demonetisation. The rise to the 100th position from 130 past year made India one of the top 10 best-improved countries and rounded off a day of good news on the economic front for the government.

The World Bank said India needs to do more.

The government managed to bring ease in doing business by merging the applications for the Permanent Account Number (PAN) and the Tax Account Number (TAN) and by improving the online application system in New Delhi.

Other reports by PlayStation Move reviews

Discuss This Article

FOLLOW OUR NEWSPAPER