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Ease of doing business ranking
Why is it in the news ?
- India’s ranking has gone up 14 places to 63 in World Bank's Ease of Doing Business Rankings.
More in the news
- Improvement: India was 77th among 190 countries in the previous ranking.
- Among Top 10: India has figured among the top 10 performers on the list for the third time in a row.
- The report called India’s reform efforts as "Particularly Commendable".
- The country’s improved ranking was on the back of four reforms:
(1) Starting a business.
(2) Dealing with construction permits.
(3) Trading across borders.
(4) Resolving insolvency.
Ease of Doing Business Report
- It is an index published by the World Bank.
- It is an aggregate figure that includes different parameters which define the ease of doing business in a country.
- Economies are ranked on their ease of doing business, from 1–190.
- Ranking Means: regulatory environment is more conducive to the starting and operation of a local firm.
- The indicators used for devising the index are as follows:
(1) Starting a business,
(2) Dealing with construction permits,
(3) Getting electricity,
(4) Registering property,
(5) Getting credit,
(6) Protecting minority investors,
(7) Paying taxes,
(8) Trading across borders,
(9) Enforcing contracts and
(10) Resolving insolvency.
- An 11th area – employing workers – is measured, but not factored into the score.
Source
The Hindu.