WASHINGTON/NEW DELHI: India has jumped 30 places to rank 100th in the World Bank’s ‘ease of doing business’ ranking, helped by a slew of reforms in taxation, licensing, investor protection and bankruptcy resolution.
The ranking comes as a shot in the arm for the Narendra Modi Government amid dissenting voices in certain quarters about implementation of the Goods and Services Tax (GST) as well as demonetisation.
In its annual report ‘Doing Business 2018: Reforming to Create Jobs’, the World Bank said that India’s ranking reflects nearly half of the 37 reforms, adopted since 2003, implemented in the last four years.
The ranking, however, does not take into account business environment post implementation of GST, which weaved the country of 1.3 billion into one market with one tax and removed inter-state barriers for trade. (AGENCIES)
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