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Big thumbs-up to Modinomics: India jumps 30 places to 100th rank in ease of doing business report

Source | https://economictimes.indiatimes.com : By Aaditya Narayan

NEW DELHI: India has jumped 30 spots to number 100 in the latest Ease of Doing Business report for 2018 released by the World Bank today. “India stands out this year as one of the 10 economies that improved the most in the areas measured by Doing Business,” the report said.

The report, which ranks New Zealand, Singapore and Denmark as the easiest countries in the world to do business in, ranked China at 78, which is 22 spots above India. But China’s rank did not improve, even though its Distance to Frontier (DTF) score increased by 0.40 points. India’s DTF score is at 60.76, a mega jump of 4.71 points from last year, when the World Bank ranked India at 130th position.

India’s 30-place elevation is the highest jump that any country has ever made in this index, said FM Arun Jaitley.

He said it was a clear and big acknowledgement of the structural reforms that Modi government has been undertaking.

In the last 3 years, the government has been making efforts to simplify procedures which led to improvements in many areas, Jaitley said.

India witnessed the biggest jump in the criterion of paying taxes, moving up 53 places on the back of improvements in the tax systems.

Read On…..

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