In the case of Ease of Doing Business, India is among the top 10 countries for fast improvement for 3 consecutive years.
India’s ranking has been steadily improving for 5 years before it was ranked 77
Its ranking has improved 79 places over the course of 5 years (2014-19)
India has improved in 7 out of 10 indicators and has come close to international best practices
It has become even easier to do business in India. India’s rankings in Ease of Doing Business rankings, ie DBR, have seen a tremendous jump. According to the report released by the World Bank, India has climbed 14 places to 63rd rank. India was ranked 77 in the list of 190 countries earlier, which has improved further.
India improved its business ranking for the fifth time in a row
The special thing is that the Ease of Doing Business ranking has improved for the fifth time in a row. It has been steadily improving since the year 2015 and another important thing is that for 3 consecutive years, India has been included in the top 10 countries in the rankings in this matter.
It is the result of the continuous efforts of the government that during the last 5 years (2014-19), India’s ranking has improved 79 places. India has improved in 7 out of 10 indicators and has moved closer to international best practices. There has been a tremendous improvement in indicators like ‘Insolvency Removal Procedure’, ‘Construction Permit’, ‘Property Registration’, ‘Foreign Trade’, ‘Tax Payment’ etc., due to which the ranking of India has improved.
There are several reasons for the improvement in India’s ranking in terms of ease of doing business. India has improved its performance this year on several levels, among which are prominent :
-World Bank has placed India in the top 10 improvers (reformers) for the third consecutive year.
There has been a tremendous improvement in the recovery rate of bankruptcy cases, which has improved from 71.6% to 26.5%.
– Time taken to settle bankruptcy cases has also reduced. Earlier it used to take 4.3 years to deal with such cases, now it is taking 1.6 years.
– India has also reduced the number of procedures for construction permits.
India occupies first place in South Asian countries. In 2014, he was sixth.
