Proud Moment for India! Country jumps 14 places in Ease of Doing Business from 77th to 63rd spot - Full list
India is going from strength to strength and the world is taking note. This is reflected in the rising graph of India in global ranking. Significantly, India has further improved its ease of doing business ranking, jumping 14 places to 63rd rank.
India is going from strength to strength and the world is taking note. This is reflected in the rising graph of India in global ranking. Significantly, India has further improved its ease of doing business ranking, jumping 14 places to 63rd rank. This comes at a time when the government has introduced several new measures to boost the economy. The country also figured among the the top 10 performers on the list for the third time in a row. "India has jumped from 77th to 63rd rank in the Ease of Doing Business Rankings released just now by the World Bank," Commerce Minister Piyush Goyal tweeted. He congratulated Prime Minister Narendra Modi for making improvements in country's business environment.
"Congratulations to PM @NarendraModiji for the path breaking improvements in India`s business environment for nation`s prosperity and job creation," he said. India was ranked 142nd among 190 nations when Prime Minister Narendra Modi took office in 2014. Last year, The country had jumped 23 places to the 77th position on the back of reforms related to insolvency, taxation and other areas.
The World Bank said India conducted four reforms in the 12-month period to May 1. It said that the country has made it easier to obtain building permit and also, to build a warehouse.
Here is the full list -
“Among other improvements, India made the process of obtaining a building permit more efficient. Obtaining all permits and authorizations to build a warehouse now costs 4% of the warehouse value, down from 5.7% the previous year. In addition, authorities enhanced building quality control in Delhi by strengthening professional certification requirements. Importing and exporting also became easier for companies with the creation of a single electronic platform for trade stakeholders, upgrades to port infrastructure and improvements to electronic submission of documents," it added.
The report added that government's goal in 2015 was to join the 50 top economies on the ease of doing business ranking by 2020. "The country has made a substantial leap upward, raising its ease of doing business ranking from 130 in Doing Business 2016 to 63 in Doing Business 2020,” the report said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
11:28 AM IST