 "India jumps 12 spots on World Bank's ease of doing biz list")
India which has jumped four places from 134 to 130 on the latest World Banks Ease of Doing Business rankings, fares better on some indicators than other members of the South Asian region.
It takes 191.5 days to complete the 34 odd procedures covering construction permits in India. In Mumbai though it takes 147 days as compared to 231 days in Delhi. By comparison it takes 195 days to complete the 15 procedures on average in South Asia.
Similarly it takes 90 days to complete 5 procedures to get electricity in India. For Mumbai it is lower at 53 days while for Delhi it is 123 days. In contrast it takes 142 days to cover on average 5.5 procedures to get electricity in South Asia. On the ease of paying taxes too it fares better.
It takes 243 hours per year to pay taxes in India, involving 33 payments per year. In contrast it takes 299 hours to pay taxes in South Asia. Similarly, it takes fewer days to register a property in India (47 days) as compared to South Asia (98).
Similarly it takes 90 days to complete 5 procedures to get electricity in India. For Mumbai it is lower at 53 days while for Delhi it is 123 days. In contrast it takes 142 days to cover on average 5.5 procedures to get electricity in South Asia. On the ease of paying taxes too it fares better.
It takes 243 hours per year to pay taxes in India, involving 33 payments per year. In contrast it takes 299 hours to pay taxes in South Asia. Similarly, it takes fewer days to register a property in India (47 days) as compared to South Asia (98).
On the number of days it takes to start a business, India fares poorly despite jumping 9 ranks to 155 from 164 the previous year. It takes 29 days to complete the 13 procedures to start a business. In comparison it takes 15 days to complete the procedures to set up a business in South Asia.
On enforcing contracts too India ranks lower than south Asia. It takes 1420 days to enforce contacts in India, which the World Bank estimates costs roughly 40 per cent of the total claim. In comparison it takes 1076 days to enforce contracts in South Asia which costs 30 per cent of the total claim.
Similarly, it takes more time to resolve insolvency in India. The entire process takes 4.3 years, costing 9 per cent of the total estate cost, with a recovery rate of 25.7 per cent. In contrast, in South Asia it takes 2.6 years or 10 per cent of the cost of estate. The recovery rate too is higher at 32 per cent for South Asian companies.
