India has successfully jumped to 30 places in 1 year in the ease of business index by the World Bank. Prime Minister Narendra Modi called this achievement “historic” one and also aims at seeing India in the top 50 list. This has also narrowed the gap between India and China in this index, China currently ranks at 78 on the list.
PM Modi also tweeted about this achievement “Historic jump in ‘Ease of Doing Business’ rankings is the outcome of the all-round & multi-sectoral reform push of Team India”
Historic jump in ‘Ease of Doing Business’ rankings is the outcome of the all-round & multi-sectoral reform push of Team India. pic.twitter.com/DhrEcuurgi
— Narendra Modi (@narendramodi) October 31, 2017
India has also jumped 53 places from 172 to 119 on ease of paying taxes and from 44 to 29 on ease of businesses getting credit. There are some falls in the report too. India has fallen 16 ranks in the ease of registering property.
This report is a big positive for the government as there was a big fall in GDP growth to a three-year low in the April to June quarter.
New Zealand, Singapore, and Denmark are the top three nations in this list while Somalia being the last. Our neighbor nations Pakistan and Bangladesh currently rank at 147 and 177.
The opposition Congress has said that it is an attempt to seek “manufactured relevance” from the World Bank when the common public of India is suffering from GST and the demonetization.