• SENSEX
    NIFTY 50
VIDEOS
Business

India can reach top 50 on ease of doing business index by next year: NITI Aayog CEO Amitabh Kant

Updated : October 31, 2018 08:57 PM IST

After India climbed in the World Bank's ease of doing business global rankings, Amitabh Kant, chief executive officer, NITI Aayog, on Wednesday said country can reach top 50 on index by next year.

India improved its ranking on the World Bank's 'ease of doing business' report for the second straight year, jumping 23 places to the 77th position on the back of reforms related to insolvency, taxation and other areas.

Last year, India was ranked 100th in the World Bank's Doing Business report. In its annual 'Doing Business' 2019 report, World Bank said India improved its rank on six out of the 10 parameters relating to starting and doing business in a country.

Kant said it's a remarkable achievement and the credit goes to the entire team of Department of Industrial Policy and Promotion (DIPP).

"To my mind. this is a big jump forward. We have done extremely well in getting credit, electricity and protecting minority interest. We have jumped up in construction permit also. But, we need to make up on enforcement of contracts, registering property and on starting business, where we have moved a little bit but need a big jump," Kant said to CNBC-TV18.

"This improvement in ranking shows the determination of the government that brought in major transformation through use of digital technology and doing away with human intervention in many places, improving processes and procedures, bringing in new laws and has also demonstrated the ability to bring in structural reforms like GST, insolvency code, RERA," he added.
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV