Big boost for Modinomics! India ranks 77 in World Bank Ease of Doing Business 2018 report
World Bank Ease of Doing Business 2018 report: In the World Bank's latest Doing Business Report (DBR, 2019), India has recorded a jump of 23 positions against its rank of 100 in 2017.
World Bank Ease of Doing Business 2018 report: In the World Bank's latest Doing Business Report (DBR, 2019), India has recorded a jump of 23 positions against its rank of 100 in 2017. The country is now placed at 77th rank among 190 countries assessed by the World Bank. India'sleap of 23 ranks in the Ease of Doing Business ranking is significant considering that last year India had improved its rank by 30 places, a rare feat for any large and diverse country of the size of India.
The latest ranking will give a boost to Prime Minister Narendra Modi-led Union Government, which has been at the receiving end of the opposition's wrath over economic issues in the run up to crucial elections in coming months.
As a result of continued efforts by the Government, India has improved its rank by 53 positions in last two years and 65 positions in last four years.
The Doing Business assessment provides objective measures of business regulations and their enforcement across 190 economies on ten parameters affecting a business through its life cycle.
The DBR ranks countries on the basis of Distance to Frontier (DTF), a score that shows the gap of aneconomy to the global best practice. This year, India’s DTF score improved to 67.23 from 60.76 in the previous year.
India has improved its rank in 6 out of 10 indicators and has moved closer to international best practices (Distance to Frontier score) on 7 out of the 10 indicators. But, the most dramatic improvements have been registered in the indicators related to 'Construction Permits' and 'Trading across Borders'.
In grant of construction permits, India's rank improved from 181 in 2017 to 52in 2018, an improvement of 129 ranks in a single year. In 'Trading across Borders', India's rank improved by 66 positions moving from 146 in 2017 to 80in 2018.