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In Big Boost, India Jumps 30 Places To 100 On Ease Of Doing Business: 10 Points

Discussion in 'World Economy' started by proud_indian, Oct 31, 2017.

  1. proud_indian

    proud_indian 2nd Lieutant FULL MEMBER

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    In Big Boost, India Jumps 30 Places To 100 On Ease Of Doing Business: 10 Points
    All India | Edited by Amrita Ray | Updated: October 31, 2017 20:08 IST
    [​IMG]
    NEW DELHI: India has jumped a massive 30 places to 100 in the World Bank's ease of doing business rankings this year, closing the gap with China which is at 78. PM Modi wants the country in the top 50 on the index. In the World Bank's report last year, India had risen one place to 130 among the 190 economies assessed. Officials had said they expected a significant improvement this year on the back of several steps taken by the government like a new bankruptcy law being operationalised and a host of other reforms.

    1. Sharing details of the report, Finance Minister Arun Jaitley said India had made the biggest jump on the index. He said the government has been trying to improve on each of the 10 criteria that the World Bank assesses countries on to arrive at its rankings.
    2. The Finance Minister said India is among 10 nations named for structural reforms.
    3. On paying taxes India has jumped 53 places, from 172 to 119. On protecting minority investors it has jumped to 4th in the World, Mr Jaitley said. On getting credit India has jumped 15 places from 44 to 29.There are also some red flags. India has fallen 16 places on ease of registering property and has slid slightly on trading across borders too.
    4. On starting a business India slid one rank from 155 to 156. Mr Jaitley said certain provisions made in the Companies Act have not yet been fully factored in in this year's ratings, and he is sure of a better rank next year on starting a business.
    5. New Zealand tops the World Bank index on ease of doing business this year and Singapore is number 2, with Denmark placing third. Among neighbours, Pakistan is at 147 and Bangladesh is at 177. Somalia is last.
    6. The report is a boost for the government which has had to defend its economic policies amid criticism over the GDP growth rate hitting a three-year low in the April to June quarter.
    7. The government has insisted that the fundamentals of the economy are strong and has rejected allegations that its two big reforms, last year's demonetisation and new national tax GST launched this year are to blame for the economic slowdown, saying they will deliver big benefits.
    8. For its ease of doing business rankings, the World Bank takes into account parameters like starting a business, dealing with construction permits, getting electricity, registering property and getting credit. The other parameters include protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
    9. After last year's rankings were released, PM Modi had asked top officials in states and at the Centre to study the World Bank report to analyse areas that required reform and improvement.
    10. Next year's World Bank report on ease of doing business will be out months before the 2019 national election and officials say they hope the government's structural reforms, especially GST will lead to an even better rank.
    https://www.ndtv.com/india-news/in-...0-on-ease-of-doing-business-10-points-1769477
     
  2. Guynextdoor

    Guynextdoor Lt. Colonel SENIOR MEMBER

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    Of course ease of doing business has become better. Ambani Adani etc. are making fighter planes and submarines instead of running grocery strores and telecom companies.
     
  3. WhyCry

    WhyCry Reaper Love IDF NewBie

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    'Pidi' are tweeting and also commenting on defense forums.
     
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  4. bharathp

    bharathp Developers Guild IDF NewBie

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    if the same world bank states that our GDP forecast is low - you will jump in the bandwagon. Why not actually give credit where due? the rankings indeed are a big jump and the only factor that made the difference were the structural reforms brought in by the present govt. is it that hard to accept reality?
     
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  5. Guynextdoor

    Guynextdoor Lt. Colonel SENIOR MEMBER

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    what world bank GDP growth rate? GOI itself says GDP forecast is low. Besides I am supporting the fact that there is ease of doing business in India. If a garment manufacturer like Ambani can open a fighter plane company then OBVIOUSLY there is ease of doing business.
     
  6. bharathp

    bharathp Developers Guild IDF NewBie

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    true.. if Rahul Gandhi can become Congress president there is definite improvement in job growth too - I mean - if he can get a job for his credentials, anyone can get a job.
     
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  7. Zer0reZ

    Zer0reZ 2nd Lieutant FULL MEMBER

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  8. Pundrick

    Pundrick Lieutenant FULL MEMBER

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    Suhasini Haider of "The Hindu" exactly predicted that India will jump 30 position in Ease of doing Business. I think the ranking is actually delayed and the number should have been reflect last year only but better late than never.

    And Ladka bagal wale darwaje pe, pls stop this Adani Ambani rant Tata, Reliance, Mahindra, L&T,etc are such few groups in India are there which can invest in jet production and other big ticket defense projects. If they don't then we are doomed.
     
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  9. Lion of Rajputana

    Lion of Rajputana Captain FULL MEMBER

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    He seems to favor the Communist model where there is simply no economic growth at all. Can't have industry heavyweights if there's no industry.

    Anyways, this is good news, lekin abhi bohot aage jaana hai.
     
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  10. Notsuperstitious

    Notsuperstitious 2nd Lieutant FULL MEMBER

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    Excellent news. Why would someone do politics on a news item purely to do with Indias economic development and long term structrual reform????? Truly beats me.

    Anyway can someone summarize all the improvements in international indices since Modi took over? Some improvements are truly impressive. For example tourism competitiveness - we now rank 40th...
     
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  11. sunstersun

    sunstersun Lieutenant IDF NewBie

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    Impressive.
     
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  12. Nilgiri

    Nilgiri Lieutenant IDF NewBie

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  13. InfoWarrior

    InfoWarrior Lieutenant FULL MEMBER

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    Let's see If this translates into economic growth. All past promises have been broken by BJP.
     
  14. Notsuperstitious

    Notsuperstitious 2nd Lieutant FULL MEMBER

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    Indias ranking on corruption perception index has improved by 15 places since Modi took power. From 94th to 79th.
     
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  15. Notsuperstitious

    Notsuperstitious 2nd Lieutant FULL MEMBER

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    Indias ranking on tourism competitiveness index has improved by 25 places since Modi took power. From 65th to 40th.
     
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