Yet again, India improved its ranking on the World Bank's 'ease of doing business' report, jumping 23 places to the 77th position.
Last year, the country was ranked 100th in the report. This is its second straight jump after the nation rose to the 100th spot in the last ranking from 131st rank in the previous year. The cuntry was ranked at the 142nd position among 190 nations when the Modi government came to power in 2014. The country has improved its ranking by 53 positions in the last two years and 65 positions in four years since 2014.
World Bank put India among the top 10 economies to make the most improvements. The country is South Asia’s top-ranked economy.
World Bank, in its report, said India improved its rank on six out of the 10 parameters relating to starting and doing business in a country. These parameters include starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency.
The six parameters in which the country has shown improvement are- starting a business, construction permits, getting electricity, getting credit, paying taxes and trade across borders.
However, according to the report, the country lags behind in the other four- registering property, protecting minority investors, enforcing contracts, resolving insolvency.
As per the report, it ranks at 166 in registering property with only 0.46 percent improvement. Last year, the score for the said parameter was 43.09, while this year it stands at 43.55. Though, the country ranks at number 7 in protecting minority investors, it hasn't registered any improvement in the parameter since last year. The score stands at 80.00, which was the same last year.
Enforcing contracts is another worst performing parameter for India, in which the country ranks at 163rd place, with no positive improvement since last year. The score stands at 41.19. While in resolving insolvency, it ranks at 108, with only 0.09 percent improvement since last year. The score is 40.84 this year, while it was 40.75 last year.
(With inputs from PTI)
First Published: IST