Question: What is the rank of India in the latest World Bank Doing Business Report 2019 released on October 23 2019?
(a) 77th
(b) 63th
(c) 80th
(d) 59th
Answer: (b)
Related facts:
- World Bank has released the World Bank Doing Business Report 2019.
- The Doing Business 2020 study shows that developing economies are catching up with developed economies in ease of doing business. Still, the gap remains wide.
- An entrepreneur in a low-income economy typically spends around 50 percent of the country’s per-capita income to launch a company, compared with just 4.2 percent for an entrepreneur in a high income economy.
- Worldwide, 115 economies made it easier to do business.
- New Zealand secured the top position in the list followed by Singapore, Hong Kong, Denmark, South Korea respectively.
- US, UK, Japan, China, secured 6th, 8th,29th and 31st respectively in the list. Somalia is the worst performing country with 190th rank.
- The economies with the most notable improvement in Doing Business 2020 are Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India, and Nigeria.
- Only two African economies rank in the top 50 on the ease of doing business; no Latin American economies rank in this group.
- Doing Business 2020 acknowledges 22 reforms in the 20 top-ranking economies. Data suggest that a considerable disparity persists between low- and high-income economies on the ease of starting a business.
India in the list:
- India has recorded a jump of 14 positions against its rank of 77 in 2019 to be placed now at 63rdrank among 190 countries assessed by the World Bank.
- India’s leap of 14 ranks in the Ease of Doing Business ranking is significant considering that there has been continuous improvement since 2015 and for the third consecutive year India is amongst the top 10 improvers.
- The DBR ranks countries on the basis of Distance to Frontier (DTF), a score that shows the gap of aneconomy to the global best practice. This year, India’s DTF score improved to 71.0 from 67.23 in the previous year.
- India has improved its rank in 7 out of 10 indicators and has moved closer to international best practices. Recovery rate under resolving insolvency has improved significantly from 26.5% to 71.6%.
- The time taken for resolving insolvency has also come down significantly from 4.3 years to 1.6 years. India continues to maintain its first position among South Asian countries. It was 6th in 2014.
Links:
https://www.doingbusiness.org/
https://economictimes.indiatimes.com/news/economy/indicators/india-jumps-to-63rd-position-in-world-banks-doing-business-2020-report/articleshow/71731589.cms
https://www.thehindu.com/business/india-moves-up-14-spots-in-world-banks-ease-of-doing-business-ranking/article29783055.ece
https://pib.gov.in/PressReleseDetail.aspx?PRID=1589055