India has improved its ease of doing business ranking in 2019, earning a place among the world's top ten most improved economies. According to World Bank's Ease of Doing Business Ranking, India has jumped 14 places to 63 this year from 77 in the year 2018.
World Bank said recent reforms carried out by the Narendra Modi government to boost the country's slowing economy helped improvement India's ease of doing business ranking.
Starting a business, construction permits, trading across borders and resolving insolvency are among the areas where the Modi administration eased policies, noted the World Bank.
Resolving Insolvency- made it difficult by not allowing dissenting creditors to receive as much under reorganization as they would receive in liquidation
Ease of doing business ranking is derived from industry feedback on 10 parameters. These include Starting a business, Dealing with Construction permits, Getting Electricity, Registering Property, Getting Credit , Protecting Minority Investors, Paying taxes, Trading Across Borders, Enforcing Contracts and Resolving Insolvency.
This is done through a survey in 2 cities of participating countries. In India, feedback from law firms, MSMEs and Corporate houses in Delhi and Mumbai are used and then compared with other participating countries to finalise the ranking.
Sources also told CNBC-TV18 that finance minister Nirmala Sitharaman will address the press tomorrow afternoon on India’s latest Ease Of Doing Business rankings.
First Published: Oct 24, 2019 7:32 AM IST
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