Ease of doing business: Highest jump for any country, says Arun Jaitley

In a big boost to government's reform push, India has jumped 30 places on World Bank’s ease of doing business index, breaking into the top 100. Finance Minister Arun Jaitley said that the jump of 30 places is the highest jump that any country has made in the ranking.

"We were ranked 142 in 2014, and 130 last year in ease of doing business World Bank list. The World Bank report says India has been undertaking numerous reforms," he said while addressing media in the national capital.
 

 

However, he said that India still lag in building construction permits. "We are going to request states to expedite municipal permits," the finance minister said.

He also hoped that it would be possible to make a bigger jump in rankings next year due to insolvency and arbitration reforms.

The Ease of Doing Business report is based on how easy it is for companies to do business as well takes in account certain regulations based on ten parameters including starting a business, getting electricity, dealing with construction permits and paying taxes among others.

Earlier in 2016, India was ranked among top 50 in three categories including minority investment, getting electricity and getting credit, but it ranked among the worst in the world in dealing with construction permits, resolving insolvency, registering property, trading across borders, paying taxes and enforcing contracts.

Source: World Bank