Policy

More schemes coming to improve ‘Ease of Doing Business’ ranking

Surabhi New Delhi | Updated on January 20, 2018 Published on May 03, 2016

Narendra Modi

PMO regularly monitoring progress on implementation of measures





Hoping to push up India’s ranking in the Ease of Doing Business, the government has set itself a deadline of December this year to identify and roll out more investor-friendly measures.

The focus this time, according to various sources, will be to look at medium-term measures such as regulatory clearances and legislative amendments that will boost India’s score on the Ease of Doing Business index, compiled by the World Bank.

“A number of steps have already been taken to boost India’s rankings and a lot of them were those that could be done immediately. The focus now will be on the next step forward, many of which may require more time,” said a person familiar with the development, adding that nodal ministries have been asked to work on this plan of action.

Sources said the Prime Minister’s Office is also regularly monitoring the progress on implementation of these measures and is also taking frequent updates in the monthly PRAGATI meetings.

Showing improvement

India had ranked 130 out of 189 countries in the Ease of Doing Business Report, 2016 moving up four notches from the recalculated rank of 134 in 2015. India’s rank has improved in ‘starting a business’, ‘dealing with construction permit’ and ‘getting electricity’ indicators.

However, it is much lower than Prime Minister Narendra Modi’s ambitious goal of notching up India’s rankings to the top 50 in the next two years. To this end, Finance Minister Arun Jaitley had in the Union Budget 2016-17 also announced a number of initiatives for ease of doing business, including IT-enabled government process, amendments to the Companies’ Act for an enabling environment for start-ups and registration of firms in a day.

He also announced the new bilateral investment treaties, liberalisation of foreign direct investment, as well as minor tax re-jigs for promoting ease of doing business for foreign as well as domestic investors. Official sources said that a big push to India’s rankings in the global survey will also come after the passage of the Insolvency and Bankruptcy Code, 2015 that will make it easier for companies to wind up. This has been one of the key sticking points for India in the rankings “The Budget proposals will also be taken up for implementation at the earliest,” said a source.

According to an assessment by the Department of Industrial Policy and Promotion, over 30 steps have been already taken by various ministries and departments to cut down on clearances and improve the business environment. Separately, States are also being assessed on implementation of reform measures.

Published on May 03, 2016

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
null
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.