Question: Recently released Ease of Doing Business Report by World Bank, India is ranked?
(a) 100
(b) 85
(c) 77
(d) 74
Answer: (c)
Related facts:
- India jumped 23 places to the rank 77th in recently released Ease of doing Business Index 2018. This report is released every year by World Bank since 2006. In the last two years the country has climbed 53 notches.
- New Zealand have top the list and Somalia is at the bottom among 190 countries across the world. These countries are judged in 10 indicators ranged across the lifestyle of a business from ‘starting a business’ to ‘resolving insolvency’.
- India features among the report’s list of top 10 improvers for the second year in a row.
- The reforms India has undertaken in streamlining the process of obtaining a building permit; improving building quality controls; consolidation of multiple application forms; introduction of GST; strengthening access to credit; infrastructure development to promote trade and business; logistics and supply chain centered initiatives; overall fiscal reforms including insolvency and Bankruptcy Code (IBC).
Ease of doing Business: - In ease of doing business index five main pillars of business are taken into account namely
1. Starting a business; 2. Getting a location; 3. Accessing finance; 4.Dealing with day to day operations; 5.Operating in a secure business environment. - There are 11 indicators are taken into consideration while measuring these 5 pillars:
1. Starting a business; 2. Labour market regulation; 3. Dealing with construction permits; 4. Getting electricity; 5. Registering property; 6. Getting credit; 7. Protecting minority investors; 8. Trading across borders; 9. Paying taxes; 10. Enforcing contracts & 11. Resolving insolvency.
By Ramayan Upadhyay
Links:
http://www.doingbusiness.org/
http://www.worldbank.org/content/dam/doingBusiness/media/Annual-Reports/English/DB2019-report_web-version.pdf
https://www.thehindu.com/business/Economy/india-jumps-up-in-the-ease-of-doing-business-index/article25381092.ece