Prime Minister Narendra Modi’s multiple foreign trips are paying off for the government, in improving India’s global ranking among countries list of ‘Ease of doing Business’. India has moved on the upside in this international ranking, country has jumped 12 positions and currently ranked as 130 in updated list against 142 rank published last year.
Singapore is the leading the list of countries in category of ‘Ease of doing Business’. India’s Distance to Frontier (DTF) score complied as 54.68 in 2016, whereas it was 53.97 in year 2015. The cut-off date for the ranking was 1st June, which clearly means that the improvement has been achieved in a very short span. In 2015 ranking, the last one of UPA government, India had slipped a few notches to 142.
Amitabh Kant, Secretary, DIPP in his talk with Economic Times said “We have reversed the trend by moving up and no country has moved 12 spots in a year. Major reforms are going to kick in from next year which will further improve our position. We are absolutely confident of being in top 50 in three years as per the target set by PM.”
The World Bank in its reports recently published says that “India is one among the countries, which have made significant improvement,” capturing initiative of the government in a separate section. The ranking is based on business environment majorly in Delhi and Mumbai at a respective score of 53 and 47. Reports further noted that starting a business in India has now became easier in comparison with past scenarios, which included minimum capital requirements and rigidity of obtaining certificates for commencing business operations.
Soumya Kanti Ghosh, Chief Economic Advisor, State Bank of India, said “Government has taken a number of micro steps in the past one year and a few reforms have been politically sensitive. States are also in the action, if we continue moving up the ranks at this pace we can break into the top 100 very soon.”
An upside trend is also been observed in the category of ‘Starting a Business in India’, overall rank has improved to 155 in 2016 from 158 rank of last year.
