India might move up in Ease of Doing Business ranking

Ease of Doing Business ranking :India is likely to see some improvementinthe annual Ease of Doing Business report oftheWorldBank,tobe issued on Thursday. The country was 77th among 190 countries in the previous ranking, an improvement by 23 places compared to its position a year before. Thursday's improvement is unlikely to be as muchand,hence, the country's rank might not reach the Narendra Modi government's target of 50th place.

India had broken into the club of the first 100suchnations in the 2018 report, when it managed to jump 30 places. The 2019 reporthadnamedthis as "oneofthe economieswiththe most notable improvement" for a third year in a row.

Ease of Doing Business

India was adjudged the fifth best performing nation in reforming the business environment that year. The country had improved its ranks in six of the 10 sub-categories used by the Bank to judge the business climate.

However, its ranking saw a decline in two more, on paying of taxes and resolving of insolvency. This was despite the fact that  India had introduced the goods and services tax in2017 and the Insolvency and Bankruptcy Code a year before.

Kolkata, Bengaluru to be included in the report

The World Bank will now include Kolkata and Bengaluru, besides Delhiand Mumbai, for preparing ease of doing business report to provide a holistic picture of business environment of the country, an official has said. "The country of the size of India was not properly represented by just two cities, and now with the inclusion of Kolkata and Bengaluru, Indian ranking in the World Bank's report will present a much better picture, "the official said.

Ease of Doing Business

The report ranks 190 nations based on ten parameters, which include sease of starting a business, construction permits,getting electricity,getting credit,paying taxes,trade across borders, enforcing contracts and resolving insolvency. The official added that the exercise to include the setwo new cities hasal ready been initiated and would be included in the World Bank's ranking in the years to come. Ranking helps in improving parameters which are essential to attract  both domestic and foreign investors.

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