India's ranking jumped by 30 positions to rank 100th among 190 countries, Arun Jaitley said.
Finance Minister Arun Jaitley addressed a press conference on India's ranking as per the World Bank's Ease of Doing Business Report 2017. After a poor show last time, India's ranking jumped by 30 positions to rank 100th among 190 countries in the World Bank report. The World Bank released the 2018 version of its Ease of Doing Business index in the evening today. The Narendra Modi government was hopeful of a significant jump on the back of reforms it has undertaken recently.
Here are the highlights on Arun Jaitley's press conference: - In the last few years, India has been ranking around 130-140 in the list.
- We were ranked 142 in 2014, and 130 last year in ease of doing business World Bank list
- This year we jumped 30 places in the list
- The jump that India has got is the highest any country has made in the doing business sector
- We have been trying to improve each criteria that is considered in the ease of doing business
- World Bank has taken names of few countries that have made remarkable progress
- In its report, World Bank said "India is one country which has been undertaking structural reforms"
- There are many criteria where we have been considered
- We got the most significant jump in our taxation policy
- Biggest jump has been improving in taxation. Last year in 189 countries, we were 172.This year we have moved up 53 places
- We have introduced the arbitration act and many such steps which will help in bettering our position.
- One reform that we have not progressed in is creating a new business where we are still at 153
- We ranked 136 in resolving insolvency. We have now jumped 33 positions to 103 rank
- We still lag in building construction permits. We are going to request states to expedite municipal permits
- With regard to registration of properties we are still lagging behind but work is in progress
- We have capacity to further significantly improve our position. We must aim to get into first 5
Suresh Prabhu- PM Modi is committed to bring in a transformative change in India's economic landscape
- Military measures, arbitrary measures and policy measures have been improved
- PM Modi has been able to bring a lot of growth in these sectors
- I would like to thank all the different ministries and sectors who have worked hard to achieve PM's vision