Scribd Logo
Upload

Welcome to Scribd!

  • Livemint - India Seeks To Jump 40 Places in World Banks Doing Business Rankings

    Uploaded by

    goyal.rohit8089
    27 views2 pages
    India aims to jump 40 places in the World Bank's Doing Business rankings for 2017-18, targeting the 90th rank, and reach the 30th rank by 2020 in order to improve ease of doing business. The government has identified five categories to focus on - starting a business, construction permits, paying taxes, trading across borders, and resolving insolvency. Reaching its targets will be challenging as reforms require cooperation from state governments, courts, and local bodies.

    Original Description:

    India doing business ranking

    Original Title

    Livemint - India Seeks to Jump 40 Places in World Banks Doing Business Rankings (1)

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    India aims to jump 40 places in the World Bank's Doing Business rankings for 2017-18, targeting the 90th rank, and reach the 30th rank by 2020 in order to improve ease of doing business. The government has identified five categories to focus on - starting a business, construction permits, paying taxes, trading across borders, and resolving insolvency. Reaching its targets will be challenging as reforms require cooperation from state governments, courts, and local bodies.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    27 views2 pages

    Livemint - India Seeks To Jump 40 Places in World Banks Doing Business Rankings

    Uploaded by

    goyal.rohit8089
    India aims to jump 40 places in the World Bank's Doing Business rankings for 2017-18, targeting the 90th rank, and reach the 30th rank by 2020 in order to improve ease of doing business. The government has identified five categories to focus on - starting a business, construction permits, paying taxes, trading across borders, and resolving insolvency. Reaching its targets will be challenging as reforms require cooperation from state governments, courts, and local bodies.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 2

    Print Close

    Tue,Mar212017.0346AMIST

    Indiaseekstojump40placesinWorldBanksDoingBusiness
    rankings
    Indiawantstoreachthe90thrankinWorldBanksDoingBusinessrankingsfor201718and30thby2020,initsendeavourto
    improveeaseofdoingbusiness

    NewDelhi:Indiaistargetinganambitious40notchjumpinthe
    WorldBanksDoingBusinesssurveythisyear.Lastyear,itsrank
    rosebyjustoneplaceto130inthesurveythatmeasurestheeaseof
    doingbusinessinvariouscountries.
    Accordingtoanoutputoutcomeframeworkdocumentpreparedby
    thegovernment,Indiawantstoreachthe90thrankin201718and
    30thby2020.

    Betterrankineaseofdoingbusinessandgreaterawarenessabout
    opportunitiesinIndiainmanufacturingsectorwouldleadtogrowthin
    themanufacturingsector,thedocumentsaid.

    Departmentofindustrialpolicyandpromotion(DIPP)secretary
    RameshAbhisheksaidthetargetsarefeasible.

    DIPPsecretaryRameshAbhishek.Indiawasranked130th
    Wearehopingtodoextremelywellinfivecategories:startinga
    inWorldBanksDoingBusinessrankingsfor201617.
    business,constructionpermits,payingtaxes,tradingacrossborders,
    Photo:RameshAbhishek/Mint
    andresolvinginsolvency.Wearealreadyinthetop50inthree
    parametersoutof10.Wearefacingchallengesintwocriteria:
    enforcingcontractsandregisteringpropertybecauseofthe
    complexityinvolved,hesaid.

    Indiawasrankedwithinthetop50countriesinparameterssuchasprotectingminorityinvestors(13th),gettingelectricity(26th)andgetting
    credit(44th),amongthe190countriessurveyed.Indiasworstrankwasindealingwithconstructionpermits,whereitwasplaced185th.It
    ranked136thinresolvinginsolvency,138thinregisteringproperty,143rdintradingacrossbordersand172ndinbothpayingtaxesand
    enforcingcontracts.

    ArindamGuha,partneratDeloitteToucheTohmatsu,saiditwillbeanuphilltasktoachievethetargetssinceitinvolvesmanystakeholders
    otherthanthecentralgovernment.

    GovernmenthastoproactivelypursuewiththestategovernmentsandlocalbodiesaswellastheSupremeCourtandhighcourtsfor
    necessaryreforms.BetweenDelhiandMumbai,theformerhasbeenanunderperformerthoughthelatterhaspickedupinrecenttimes,
    especiallyindealingwithconstructionpermits.ThismayprovetobeadragonIndiasoverallranking,headded.

    ThisyearsbudgetallocatedRs272.48croreundertheschemeofinvestmentpromotionthatwillbespentonlaunchinga360degree
    awarenesscampaignforbettereaseofdoingbusinessrankingandtoattractinvestmentin25sectorsselectedunderMakeinIndia.

    DIPPhasalsoinvolvedtheNationalProductivityCouncilandtheUnitedNationsDevelopmentProgrammetoconductuserfeedbackto
    evaluatetheeffectivenessofitsreformmeasures.

    Tobreakintothetop50intheWorldBankranking,Indianeedstosetupfasttrackcommercialcourts,disposeofcasesquicklywithminimum
    adjournmentsandestablishecourtsforelectronicfilingofcomplaints,summonsandpayments,agovernmentofficialsaidonconditionof
    anonymity.

    ALSOREAD|Easeofdoingbusiness:DIPPcallsforfasttrackcommercialcourts

    AimingtomakeiteasiertodobusinessinIndia,financeministerArunJaitleyinhis201718budgetpresentedon1Februarypromisedto
    simplifylabourlawsandabolishtheforeigninvestmentandpromotionboard(FIPB).

    Jaitleyannouncedlegislativereformstosimplify,rationalizeandamalgamateexistinglabourlawsintofourcodeswages,socialsecurity
    andwelfare,industrialrelations,andsafetyandworkingconditions.
    ThefinanceministersaidaroadmapforscrappingtheFIPBthatscrutinizesforeigninvestmentproposalswillbeannouncedsoonaspartof
    thegovernmentsfinancialsectorreforms.

    TheNationalDemocraticAlliance(NDA)governmentatthecentreplottedaneightpointstrategytomakeiteasiertodobusinessinIndia.
    Departmentswillnowholdstakeholderconsultationsforfeedbackonreformsundertaken,andalsoengagewithrespondentstoensurethe
    reformsareimplementedatthegroundlevel.Eachdepartmentwillreviewprogresseveryweekincarryingoutthenecessaryreforms.

    You might also like