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India's method of calculating ease of doing business not entirely accurate, says former CEA Kaushik Basu

India's method of calculating ease of doing business not entirely accurate, says former CEA Kaushik Basu

India's method of calculating ease of doing business not entirely accurate, says former CEA Kaushik Basu
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By Latha Venkatesh  Aug 7, 2018 6:46:04 AM IST (Updated)

Kaushik Basu, former CEA, in an exclusive interview to CNBC-TV18 said the country has improved in terms of the removing obstacles to businesses, part of the jump in rankings is because of the change in World bank's way of computing which went in India's favour.

India's method of computing its ease of doing business ranking was not entirely accurate, said former chief economic adviser Kaushik Basu.

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While he said the country has improved in terms of the removing obstacles to businesses, part of the jump in rankings is because of the change in World bank's way of computing which went in India's favour.
Of the 30 places jump, more than half was due to change in criteria of World Bank's calculation, Basu said and added that a part of the jump in rankings was also because of the measure India has undertaken.
Noting that the country's track record in terms of closing down businesses was abysmal, he said a lot more could be done in terms of easing up the bureaucratic steps involved.
Basu, who was also the World Bank's chief economist, said India is not really moving well towards getting rid of the culture of offering bribes culture and corruption in general.
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