India has moved one rank up to the 130th position in the World Bank’s ‘ease of doing business’ ranking for 2017. This marginal improvement came on the back of slight improvement in four indicators — getting electricity, enforcing contracts, trading across borders and registering property.
Over the past two years, the government has implemented a host of reforms to make it easier for businesses to start, operate and exit. It is therefore disappointing that these achievements are not covered by the report due to methodological issues. The government has engaged with the World Bank multiple times in the process, and is hopeful that they will take into account all the implemented reforms in future reports,” said a government statement. India was last year ranked on 130th among 190 economies that were assessed over ten parameters.
Ramesh Abhishek, secretary, Department of Industrial Policy and Promotion (DIPP), said on Tuesday that a dozen of important reforms like enactment of bankruptcy code, GST, introduction of single window system for building plan approvals and online ESIC (Employees’ State Insurance Corporation) and EPFO (Employees’ Provident Fund Organisation) registrations were not recognized by the World Bank this year.