Ease of Doing Business Grand Challenge Current Affairs - 2019

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Prime Minister launches Ease of Doing Business Grand Challenge

Prime Minister Narendra Modi launched Ease of Doing Business Grand Challenge on resolving seven identified Ease of Doing Business problems with use of cutting edge technologies. It was launched during programme organized by PM for interaction with select CEOs from Indian & foreign companies.

Ease of Doing Business Grand Challenge

The objective of this challenge is to tap potential of young Indians, startups and other private enterprises to provide solutions to complex problems using current technology. It is in pursuance of Government’s resolve to make India one of the easiest places to conduct business in the world. Government has made efforts to ensure that India consistently improves its business environment. This challenge is aimed at attracting innovative ideas on artificial intelligence (AI), Internet of Things (IoT), big data analytics, blockchain and other cutting edge technology to reform government processes. The platform for this grand challenge will be on Start Up India portal.

Background

In World Bank’s Doing Business Report (DBR, 2019) released in October 2018, India has recorded jump of 23 positions against its rank of 100 in 2017 to be placed at 77th rank among 190 countries. As result of continued efforts by the Government, India has improved its rank by 53 positions in the last two years and 65 positions in the last four years (2014-18). In 2014, India was ranked 142nd among 190 nations. World Bank’s Ease of Doing Business index ranks 190 countries based on 10 parameters, including starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts, and resolving insolvency.