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India Jumps 23 Places On World Bank’s Ease Of Doing Business Index (Bloomberg Quint)
October 31, 2018
By BQ Desk
From the article:
India jumped 23 places on the World Bank’s Doing Business Index as the country made it easier to start a business, deal with construction permits and facilitated quicker cross-border trade.
It’s now ranked at 77, the highest in South Asia, up from 100 last year, according to the World Bank’s Doing Business 2019 report. “India, with six reforms, is among the top-ten improvers for the second consecutive year,” the report said.
The improved ranking will boost the sentiment of Prime Minister Narendra Modi’s government ahead of the general election, at a time it’s facing flak for rising fuel prices and falling rupee. Last year, Finance Minister Arun Jaitley had said Modi wanted various ministries to target the top 50, which he thought was “doable”.
Earlier this year, World bank’s former chief economist had raised questions about the methodology to rank countries on the Doing Business Index.
Justin Sandefur, a senior fellow at the Center for Global Development, analysed the historical rankings and said India’s big leap in rankings were only visible due to a change in methodology. The World Bank has since defended its stance.