In World Bank’s recently released Doing Business (DB) Report 2018 titled as ‘Doing Business 2018: Reforming to Create Jobs’, India leapfrogged to 100th among 190 countries.
India has jumped over 30 ranks to attain 100th spot from 130th position in 2017 Ease of Doing Business Index. Its score also increased from 56.05 in 2017 to 60.76 in Doing Business 2018
Ease of Doing Business Index
The Ease of Doing Business Index assesses 190 economies and covers 10 indicators which span the lifecycle of a business. These 10 indicators are: Starting a business, Dealing with construction permits, Getting electricity, Registering property, Getting credit, Protecting minority investors, Paying taxes, Trading across borders, Enforcing contracts and Resolving insolvency. Each one of these indicators carry equal weightage.
It saw the improvement in 6 out of 10 indicators. They are Resolving Insolvency, Paying Taxes, Getting Credit, Enforcing Contracts, Protecting Minority Investors and Construction Permits. India ranked 103rd in Resolving Insolvency indicator, 119th in Paying Taxes, 29th in Getting Credit, 164th in Enforcing Contracts, 4th in Protecting Minority Investors and 181st in Construction Permits.
Key Highlights of Report
India figures among top 10 countries Brunei Darussalam, Thailand, Malawi, Kosovo, Uzbekistan, Zambia, Nigeria, Djibouti and El Salvador that have marked an improvement this year. These 10 top improvers implemented 53 regulatory reforms making it easier for them to do business.
Europe and Central Asia regions continue to have highest share of economies implementing at least one reform as 76% of economies in the region implemented at least one business regulatory reform.
India is only country in South Asia and BRICS economies to feature among most improved economies of the DB Report this year. In South Asia region, India was top improver, but was ranked below Bhutan (75). Nepal (105), Sri Lanka (111), Maldives (136), Pakistan (147), Bangladesh (177) and Afghanistan (183) were ranked below India.