India jumps 23 notches to 77th rank on World Bank's 'ease of doing biz' ranking

Agencies
October 31, 2018

New Delhi, Oct 31: India improved its ranking on the World Bank's 'ease of doing business' report for the second straight year, jumping 23 places to the 77th position on the back of reforms related to insolvency, taxation and other areas.

India was ranked 100th in the World Bank's Doing Business report last year.

The ranking comes as a shot in the arm for the Narendra Modi government which faces strong dissenting voices from opposition parties ahead of the general elections next year.

In its annual 'Doing Business' 2019 report, World Bank said India improved its rank on six out of the 10 parameters relating to starting and doing business in a country.

These parameters include ease of starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts and resolving insolvency.

India was ranked at the 142nd position among 190 nations when the Modi government came to power in 2014. It rose to the 100th spot in the last ranking from 131st rank in the previous year.

New Zealand tops the list of 190 countries in ease of doing business, followed by Singapore, Denmark, and Hong Kong. 

The United States is placed eight and China has been ranked 46th. Neighbouring Pakistan is placed at 136.

World Bank put India among the top 10 economies to make the most improvements.

Observing that the two economies with the largest populations, China and India, demonstrated impressive reform agendas, the World Bank said India also focused on streamlining business processes.

India, it said, made starting a business easier by integrating multiple application forms into a general incorporation form. "India also replaced the value-added tax with the GST (Goods and Services Tax) for which the registration process is faster," it said.

Also, "India made paying taxes easier by replacing many indirect taxes with a single indirect tax, the GST, for the entire country. India also made paying taxes less costly by reducing the corporate income tax rate and the employees' provident funds scheme rate paid by the employer," the World Bank said.

Stating that a well-designed insolvency framework is a vital determinant of debt recovery, it said the establishment of debt recovery tribunals in India "reduced non-performing loans by 28 per cent and lowered interest rates on larger loans, suggesting that faster processing of debt recovery cases cut the cost of credit." 

Further, India reduced the time and cost of export and import through various initiatives, including the implementation of electronic sealing of containers, the upgrading of port infrastructure and allowing electronic submission of supporting documents with digital signatures, it said. 

World Bank said India has further streamlined the process of obtaining a building permit and made it faster and less expensive to obtain a construction permit. It also improved building quality control by introducing decennial liability and insurance.

A Commerce and Industry Ministry statement in New Delhi said: "India's leap of 23 ranks in the ease of doing business ranking is significant considering that last year India has improved its ranking by 30 places, a rare feat for any large country of the size of India." 

The country, it added, has improved its ranking by 53 positions in the last two years and 65 positions in four years since 2014.

The World bank 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.

"India has improved in rank in 6 out of 10 indicators and has moved closer to international best practices...The most dramatic improvements have been registered in the indicators related 'construction permits' and 'trading across borders'," the ministry said. 

The rank has improved by a whooping 129 notches with regards to 'construction permits', 66 points in 'trading across borders', 19 in 'starting a business', and 7 points in 'getting credit'. 

Under its National Trade Facilitation Action Plan 2017-2020, India implemented several initiatives that improved the efficiency of cross-border trade, reducing border and documentary compliance time for both exports and imports, World Bank said.

"Enhanced risk-based management now allows exporters to seal their containers electronically at their own facilities; as little as five percent of shipments must undergo physical inspections," it said, adding that India also invested in port equipment, strengthened management and improved electronic document flow.

Regarding getting electricity, newly-adopted regulations from the Delhi Electricity Regulatory Commission require that electrical connections be completed within 15 days of the application's acceptance. To comply with this regulation, Tata Power Delhi Distribution deployed more personnel as well as tracking tools and key performance indicators to monitor each commercial connection, it said.

In its annual report, the World Bank said overall, the BRIC economies -- Brazil, Russia, India and China -- improved their average ease of doing business score by a combined total of almost 19 points across various areas of business regulation. 

All four economies improved in the area of getting electricity and passed reforms simplifying the process of trading across borders, it said.

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News Network
March 5,2020

New Delhi, Mar 5: The primary classes of all schools in the national capital will remain closed till March 31 to prevent a possibility of spread of coronavirus, Deputy Chief Minister Manish Sisodia announced on Thursday.

According to Directorate of Education (DoE) officials, while elaborate guidelines have been issued about preventive measures for coronavirus, students of nursery and primary classes are too young to understand the risk, making them more prone to infectious diseases.

Sisodia, who also holds the education portfolio, tweeted, "As a precautionary measure to prevent the possibility of spread of COVID-19 amongst our children, Delhi Government has directed the immediate closure of all primary schools (Govt/ aided/ private/MCD/NDMC) till 31/3/20(sic)."

A senior DoE official said, "Elaborate guidelines have already been issued. However, students of nursery and primary classes are too young to understand the risks associated with COVID-19. Thus they are more prone to infectious diseases and mingle around with classmates more often."

"It will be good if they are trained in the do's and dont's under the care and supervision of their parents at home. However, students of classes other than primary will continue to come to schools or examination centres for writing their examination as per schedule. The teaching, as well as non-teaching staff, will also attend regular school," the official said.

As of now, the number of confirmed COVID-19 cases in the country stands at 30, including 16 Italian tourists. The figure includes the first three cases reported from Kerala last month who have already been discharged following recovery.

Alerted by the coronavirus case reported in Delhi-NCR, schools in the region have sent out advisories to parents suggesting that they do not send their wards to attend classes even in case of mild cough or cold, and saying that they may declare holidays if the need arises. A few schools have announced already holidays and others have advanced their spring break.

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News Network
June 24,2020

New Delhi, Jun 24: In a stinging attack on the Gandhi family of the Congress, BJP president J P Nadda on Wednesday said a dynasty and its courtiers have "grand delusions" of the opposition being about itself and stated that a "rejected and ejected" family is not equal to the entire opposition.

In his tweets, Nadda said it was the time for unity and solidarity, and the "relaunch of the scion for the nth time can wait", an apparent dig at Rahul Gandhi, who has been aggressive in his attacks on Prime Minister Narendra Modi for his handling of the border row with China.

Nadda said India lost thousands of square kilometres of land due to the "misadventures of one dynasty" and claimed that the Siachen glacier, where the Indian Army has a strong presence, was almost gone. No wonder India has rejected them, he said.'

The BJP president posted a news report to back his assertions about Siachen.

"One 'royal' dynasty and their 'loyal' courtiers have grand delusions of the Opposition being about one dynasty. A dynast throws tantrums and his courtiers peddle that fake narrative. The latest one relates to the Opposition asking questions to the Government," Nadda said.

Though he did not directly name the Gandhi family or any of its members, the reference was clear.

He said it was the opposition's right to ask questions and added that the all-party meeting called by Prime Minister Narendra Modi saw healthy deliberations, with several opposition leaders giving their valuable inputs.

They also fully supported the Centre in determining the way ahead, Nadda said.

"One family was an exception. Any guesses who," he asked.

Targeting the Gandhis, the BJP president said, "One rejected and ejected dynasty is NOT equal to the entire Opposition. One dynasty's interests are not India's interests. Today, the nation is united and supportive of our armed forces. This is the time for unity and solidarity. Relaunch of 'the scion' for the nth time can wait."

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News Network
January 24,2020

Davos, Jan 24: Pakistan Prime Minister Imran Khan claimed that he met with a “brick wall” when he approached Indian Prime Minister Narendra Modi with a peace proposal, soon after assuming office.

In an interview to Foreign Policy magazine on the sidelines of WEF 2020 here, Khan also said he told Modi that Pakistan will act firmly if it was given evidence of any involvement in the Pulwama terror attack, but India instead “bombed” Pakistan.

Tensions have escalated between the two countries, following India withdrawing the special status of Jammu and Kashmir in August 2019. Even since, Khan has been trying to seek global intervention to de-escalate the tensions between the two countries.

On Thursday, India's External Affairs Ministry spokesperson Raveesh Kumar categorically ruled out any third party role on the Kashmir issue, asserting that any issue between the two countries should be resolved bilaterally.

In the interview, Khan said that he is a firm believer that military means are not a solution to ending conflicts. “After assuming office, I immediately reached out to Prime Minister Modi. I was amazed by the reaction I got, which was quite weird.

The subcontinent hosts the greatest number of poor people in the world, and the best way to fight poverty is to have a trading relationship between the two countries rather than spending money on arms. This is what I said to the Indian Prime Minister. But I was met by brick wall,” Khan said.

Khan took charge as Prime Minister in August 2018. Referring to the suicide attack in Pulwama, Khan said he immediately told Modi ,“if you can give us any actionable intelligence (that Pakistanis were involved), we will act on it. But rather than do so, they bombed us.”

Noting that the both countries are not close to conflict right now, Khan said that it is important that the UN and the US act.

When asked about US President Donald Trump’s close relationship with Modi, Khan said the relationship is understandable because India is a huge market. “My concern is not about the US-India relationship. My concern is the direction in which India is going,” Khan said.

Khan also sought to compare the events in India to what happened in Nazi Germany.

“Between 1930 and 1934, Germany went from a liberal democracy to a fascist, totalitarian, racist state. If you look at what is happening in India under the BJP in the last five years, look where it's heading, you'll see the danger. And you're talking about a huge country of 1.3 billion people that is nuclear-armed,” he said.

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