India moves up 30 places on ease of business index
Historic jump in rankings is outcome of the allround & multisectoral reform push of Team India NARENDRA MODI, Prime Minister
narrative after months of sluggish growth, helped largely by reforms in taxation, insolvency laws and access to credit that Prime Minister Modi pushed to boost investment and jobs.
“Evaluation for the ease of doing business ranking is very tough. The ranking does not reflect the reform measures unless the outcome is visible on the ground,” finance minister Arun Jaitley told journalists.
The benchmark, based on data from New Delhi and Mumbai for the year to June 2017, puts India among the top 10 “improvers” globally, having done better in eight of 10 business indicators. But India still lags in areas such
If we work on areas that we are still lagging behind, we have the potential to jump up into the top 50 ARUN JAITLEY,
Finance minister
as starting a business, enforcing contracts and dealing with construction permits, the report said.
The latest findings help India close the gap on its arch rival China whose ranking remained unchanged for a second year at 78.
The report, which has often attracted criticism for not being representative enough, excluded the impact of the government’s shock withdrawal of high-value banknotes last year.
“This report takes i nto account only Delhi and Mumbai. To get a true picture of doing business in India, manufacturing hubs such as Tamil Nadu and Gujarat should have been looked at,” said former Indian chief statistician Pronab Sen.