World Bank has started taking feedback for ease of doing business report. Here’s what India is doing to improve rankings
Advertisement
India was disappointed with the last ease of doing business report by the World Bank and now wants to improve its positive by at least 80 spots. Last year, India improved by just one spot and was at 130th position among 189 countries.
Since theWorld Bank has started taking feedback for the next round of ease of doing business ranking, the Indian Government is reaching out to respondents and nodal departments to ensure they are aware of the reforms undertaken.
The World Bank is taking user feedback across 189 countries and interacting with the users before acknowledging the reforms. Lack of positive feedback on the ground was one of reasons cited for India's poor show in the global ranking even though the government took many measures to improve the business environment.
To improve the rankings this year, the Department of Industrial Policy and Promotion (DIPP) has asked departments of justice, urban development and power and also lawyers and chartered accountants to refer to the reform-related information made available online.
"They can check and verify if we have accomplished the reforms we have claimed. There has to be more awareness of steps being taken by the government," a senior government official told ET.
The Indian Government said reforms were not adequately captured in the ranking released by World Bank last year.
DIPP has now captured reforms undertaken by the government across the 10 parameters the World Bank will assess as part of its global study. These include getting electricity, enforcing contracts, starting business, registering property, resolving insolvency, construction permits, getting credit, protecting minority investors, paying taxes and trade across borders.
Advertisement
Since the
The World Bank is taking user feedback across 189 countries and interacting with the users before acknowledging the reforms. Lack of positive feedback on the ground was one of reasons cited for India's poor show in the global ranking even though the government took many measures to improve the business environment.
To improve the rankings this year, the Department of Industrial Policy and Promotion (DIPP) has asked departments of justice, urban development and power and also lawyers and chartered accountants to refer to the reform-related information made available online.
"They can check and verify if we have accomplished the reforms we have claimed. There has to be more awareness of steps being taken by the government," a senior government official told ET.
Advertisement
DIPP has now captured reforms undertaken by the government across the 10 parameters the World Bank will assess as part of its global study. These include getting electricity, enforcing contracts, starting business, registering property, resolving insolvency, construction permits, getting credit, protecting minority investors, paying taxes and trade across borders.
Advertisement
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Experts warn of rising temperatures in Bengaluru as Phase 2 of Lok Sabha elections draws near
- Axis Bank posts net profit of ₹7,129 cr in March quarter
- 7 Best tourist places to visit in Rishikesh in 2024
- From underdog to Bill Gates-sponsored superfood: Have millets finally managed to make a comeback?
- 7 Things to do on your next trip to Rishikesh