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Last updated: 07 Nov, 2017  

World.Bank.9.Thmb.jpg Ease of doing business

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Bikky Khosla | 07 Nov, 2017
The recently released Ease of Doing Business ranking 2018 has brought a pleasant surprise for India. The country jumped 30 spots, securing a place among the top-100 countries. This is the highest-ever jump by a country in the World Bank's ranking. The  index evaluates 190 countries on 10 specific parameters, and India has improved its rank in 6 out of these indicators. No doubt this is a spectacular improvement and the Modi government deserves a praise for this.

Now, let's look at the details. We have improved the rank to 103 from 136  in terms of resolving insolvency, jumping 33 positions. Needless to say, this is a significant parameter, and the spike is a welcome one. Then the biggest jump is achieved in the area of taxation reforms. The rank secured is 119 -- a big jump of 53 places. We are ranked 29th in providing credit, 164 in enforcement of contracts, 181 in construction permits and 156 in starting a business.

The World Bank report also reveals some more positive aspects about Ease of Doing Business in India. It comes with a list of 10 countries which have taken structural reforms, and India is the only major economy to feature in this list. Also, India is the only South Asian country to join the list of the 10 top improvers. It is also significant to note that the latest report has not taken the Goods and Services Tax into account, the biggest tax reform in the country's history. It means our ranking may improve much further next year.

It is obvious that the government is more than happy to see this improvement, particularly amid growing criticism leveled against it for its "misadventures" of demonetisation and GST. Finance Minister Jaitley, expressing his enthusiasm, vowed to continue reforms that will help break into top 50 nations. The Prime Minister, taking on critics who expressed doubt about the dramatic rise in the ranking, said that this was the result of three years of efforts by the government to create a business friendly environment in the country. It sounds true to a great extent.
 
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Ease of doing business.
Umesh Mehta | Thu Nov 16 02:41:24 2017
I used to feel that this was the most important issue for Namo. Then I found out that China's ranking is far worse than Russia's. Yet, China has the second highest GDP. Their per capita GDP is almost equal.So maybe, EoB may not be as important as I thought earlier.


Ease of doing business.
Fred Fernandes | Sun Nov 12 11:35:05 2017
Sir, One factor that nobody has seen is that only 2 cities were chosen for the survey, Maharashtra and Delhi. Delhi is a non BJP rulrd state, and it has been included. Now the government takes credit for the achievement of AAP. Is this fair? The BJP takes credit for everything that they vehemently opposed during the UPA rule.Pan card, Aadhar, GST and many projects that were undertaken by the UPA. All over India there is suffering among small traders and entrepreneurs. Thet gave been hit by the double blows of DeMo and GST. They claim that GDP anbd income assessees have increased, but they have changed the criteria for the measurements. GDP has the base year changed, to show lesser fall than it really is. IT numbers now include all TDS persons, not real taxpayers. This government has only claimed achievements, but are they true? No. Banks are flush with funds as fewer borrowers are willing to do business. They claim to reduce black money, then why have they not made political donations and voters cards linked to Aadhar? Because these are their source of black money. Why have they not made any headway in the Bank papers leak? Have you read the provisions of the new IT act, or the GST act? They have unbridled authority to arrest with giving any reason. They have enacted so many laws to protect themselves. Nobody can take action against any bureaucrat or elected representative without permission of the cabinet or legislature. Are they Gods? And who are we?


Improvement in World Bank Ranking of India in Ease of doing business
SJS Ravi | Wed Nov 8 14:09:35 2017
Should I be dancing with joy at the great achievement? If most small businesses are EASED out of business obviously the big businesses will have an open field for doing business in India. Many Indian Companies, I mean the big businesses, who have floundered on the repayment of loans due to highly leveraged ways of doing business (High quantum of bank loans and Low equity) will have to sell out to foreign buyers just to pay off the banks since Brother Indian companies are in the same floundering boats & so are unlikely to have the resources for acquisitions. As a result what we will have is a few crony capitalists, rest foreign owned companies and a few new fangled tech companies which are in any case funded by foreign investors. Obviously World Bank is showing the way and our suave FM is jabbering as usual as if all his misadventures are really bringing in some rewards. Reforms are just a smoke screen to throw dust in the eyes of the world at large. While most small businesses are crushed by the GST juggernaut and low demand, should we dance with joy for our great achievement? Weren't we talking of our fudged up growth figures of 8 % and 10 % and felt that world is looking at us instead of China? In a real world, even with 25 % or 30 % growth, we will hardly be able to catch up with China's volume of economy. When will we become real and instead of smoking pipe dreams start feeling humble that even Indian Mfg is but just assembling of Chinese, Korean or Japanese components?


Ease of Doing Business
Jayash P Bhatt | Wed Nov 8 05:24:22 2017
Dear Sir, Its time loud mouthed, Pseudo Sickularists apply One ml of QuickFix on their Lips. Regards, Jayash P Bhatt


Ease of doing Business
M. Gurumurty | Wed Nov 8 05:04:45 2017
Very good positive information about India is growing in the world platform, which is significant achivement for indians.


Could be better
Sanjay Gupta | Wed Nov 8 03:49:01 2017
The red tape and beurocracy is stifling the bussiness. 1) 75 unproductive days due to national holidays. 2) Congested potholed roads have become dangerous to commuters 3) Govt politics between Center and State, scares away the investors. 4) Urgent reforms needed at all levels...


 
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