Page 30 - 30NOV2019E

economy

Ease of doing business: istration under Shops & Establishment in

Mumbai
Distance to Frontier improved from
75.40 to 80.96
India rising on the rank Access to Credit

Rank improved from 29 to 22
DTF improved from 75 to 80
Strength of legal rights index improved
from 8 to 9
The country’s vault from rank 100 to 63 in three years amounts to a major milestone and speaks Secured creditors will now be repaid
first during business liquidation hence
volumes for becoming business friendly, reports bharat hiteshi given priority over other claims

hen everyone was talk- rate in case of insolvency has improved India has improved its rank in 6 out Access to Electricity
ing of slowdown in to 71.6 per cent from 26.5 per cent last of 10 indicators and has moved closer to Procedures reduced from 5 to 3 in Delhi
India, the country has year. international best practices (Distance to and 5 to 4 in Mumbai
achieved another feat As a result, reorganisation has be- Frontier score) on 7 out of the 10 indica- DTF improved from 85.21 to 89.15
W by bucking the slump come the most likely procedure for tors. But, the most dramatic improve-
and emerging stronger on the Ease of viable companies as measured by ments have been registered in the indi-
Doing Business ranking of the World Doing Business now. In the past, foreclo- cators related to ‘Construction Permits’ Reorganisation has
Bank. India’s improvement in the World sure was the most common procedure and ‘Trading across Borders’. In grant become the most likely
Bank’s ease of doing business index is a reported by legal practitioners according of construction permits, India’s rank • Getting better India manages to better its ranking on seven of the World Bank’s 10 parameters
transformative moment for the country. to the Bank.In ‘Dealing with Construc- improved from 181 in 2017 to 52in 2018, procedure for viable
India’s vault from rank 100 to 63 in three tion Permits’, where it jumped by a mas- an improvement of 129 ranks in a single Parameters: e-Sanchit allows traders to file all docu-
years amounts to a major milestone and sive 129 places in the previous year, India year. In ‘Trading across Borders’, India’s Procedures reduced from 37 to 20 in ments electronically companies as measured
speaks volumes for becoming business has managed to continue improving. It is rank improved by 66 positions moving Mumbai and from 24 to 16 in Delhi Time Time and cost to export reduced by Doing Business now.
friendly. It is a strong signal that India now the 27th easiest place to construct a from 146 in 2017 to 80in 2018. The chart reduced from 128.5 to 99 days in Mumbai through the introduction of electronic
means business. business unit. shows changes in six indicators where and from 157.5 to 91 days in Delhi self-sealing of container at the factory In the past, foreclosure
With this, India has risen 14 places in The country’s third best improvement India improved its rank. Building quality control index im- Procedures reduced from 11 to 10 in was the most common
the World Bank’s latest Ease of Doing was in ‘Trading across borders’, where it The World Bank has recognized proved from 12 to 14 in Mumbai and 11 to Delhi and 12 to 10 in Mumbai
Business global rankings, inching closer rose 12 places to come in at the 68th spot. India as one of the top improvers for the 14 in Delhi Cost of obtaining construction Time reduced from 30 to 16 days in procedure reported
to its target of being counted as part In the neighbourhood, China has moved year.This is the second consecutive year permits reduced from 23.2 percent to 5.4 Delhi and 29.5 to 17 days in Mumbai by legal practitioners
of the top 50 club. The ‘Doing Business up to 31st position from the 46th rank for which India has been recognized as percent DTF score improved from 38.80 PAN, TAN, DIN now merged with
2020’ report, ranks India at 63rd position while Pakistan rose from 136th place to one of the top improvers.India is the first to 73.81 SPICe making it a single form for com- according to the
against 77th last year. India had breached become the 108th easiest to do business BRICS and South Asian country to be Robust Risk Management System pany incorporation World Bank report
the 100th mark two years ago, jumping in nation.The Doing Business assessment recognized as top improvers in consecu- has reduced inspections significantly No requirement of inspection for reg-
30 places from the 130th position. Last provides objective measures of busi- tive years.
year, it gained 23 places to reach 77th, ness regulations and their enforcement India has recorded the highest s. no. Indicator 2014 2018 c hange Improvement have taken place due to
among a total of 190 countries. across 190 economies on ten param- improvement in two years by any large the commitment of the Government to
In the latest report, India managed to eters affecting a business through its life country since 2011 in the Doing business 1 constrution Permits 184 52 +132 carry out comprehensive and complex
better its ranking on seven of the World cycle. The DBR ranks countries on the assessment by improving its rank by reforms, supported by the bureaucracy
Bank’s 10 parameters, compared to six basis of Distance to Frontier (DTF), a 53 positions. 2 Getting electricity 137 24 +113 which has changed its mindset from a
last year. As a result, the country has been score that shows the gap of aneconomy As a result of continued performance, regulator to a facilitator. The Govern-
placed in the list of ‘economies with the to the global best practice. This year, India is now placed at first position 3 Trading across Borders 126 80 +46 ment has undertaken an extensive
most notable improvement’ for the third India’s DTF score improved to 67.23 from among South Asian countries as against exercise of stakeholder consultations to
year in a row. India has been adjudged 60.76 in the previous year. 6th in 2014. 4 Paying Taxes 156 121 +35 understand challenges of the industry,
the 9th best performing nation. “Given government process re-engineering to
the size of India’s economy, these reform Year 2014 2916 2017 2018 5 Resolving Insolvency 137 108 +29 provide simplified and streamlined pro-
efforts are particularly commendable,” cesses to create a more conducive busi-
the report, said. Overall rank 142 130 100 77 6 e nforcingcontracts 186 163 +23 ness environment in the country. As a
Among categories, the country had result of continued efforts, India’s rank
the best performance in ‘Resolving DTF 53.97 56.05 60.76 67.23 7 s tarting a Business 158 137 +21 has improved as per the graph.
Insolvency’, where it jumped 56 places 8 Getting credit 36 22 +14
to take the 52nd spot. “The recovery The eight indicators in which India has improved its rank over last four years: letters@tehelka.com

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