New Delhi, Oct 23: India attained 77the position in the World Bank’s ‘Ease of doing business’ index.
India has recorded a jump of 23 positions against its rank of 100 in 2017.
“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,” a Finance Ministry release said.
Addressing a press conference, Union Minister Arun Jaitley stated “When we came to power the PM had said that we have to come within the top 50 ranks. Today, we are at Rank 77. DIPP has worked on how to up the ranking on each criterion. You have to crack the code & try and improve on the criterion in which we lack”.
He further said that “the ease of doing business is to maximise the governance with minimum govt personnel and procedures and the investment environment is guided by this”.
Secretary, Department of Industrial Policy and Promotion (DIPP) said that “India is recognised among top 10 improvers for the 2nd consecutive year. India is now ranked first among South Asian countries compared to 6th rank in 2014”.
“Online single window in Delhi and Mumbai has streamlined the processes. The procedures have reduced from 37 to 20 in Mumbai & 24 to 16 in Delhi”, he added.