India betters its position in the ‘Ease of doing business’ list of the World Bank

India raised its rank in the ‘Ease of doing business’ list of the World bank. In 2015, India ranked 142 and it was later revised to 134 according to a new methodology. The 2016 list ranks India at 130, recognizing the reforms undertaken by Indian government over the last one year.

World Bank’s chief economist Kaushik Basu opined “If the changes that we saw thus far can be kept up and strengthened a little, it is not impossible for India to be in top 100 (ranking of the ease of doing business report) by next year. It gives a good signal about the way things are moving in India. “There are countries which have moved 30-40 places at one go, but usually these are small countries.

For a big economy like India, it is difficult, but from what we have seen thus far, it is not impossible.” These positive words coming from the chief economist of the World Bank holds greater value and can be seen as an expectation of brighter days ahead for the Indian economy.

The reforms like simplification of regulatory measures, rationalization of corporate taxes and faster electricity connections have contributed largely to the better ranking. Also the proposed GST reforms will give a thrust to the Indian economy.