India jumps 30 ranks to 100th in World Bank’s ease of doing business list
New Delhi, Oct 31 (IANS) India for the first time has moved into the top 100 in the World Banks Ease of Doing Business global rankings from its 130th position last year, riding on sustained government reforms which include making tax paying easier, according to the banks latest report released here on Tuesday.
The World Bank Group’s latest report ‘Doing Business 2018: Reforming to Create Jobs’ recognises India as one of the top 10 improvers in this year’s assessment, though the report does not take into account the big bang reform of Goods and Services Tax (GST) which rolled out on July 1.
“India has moved to 100th rank as a result of a number of reforms by the government. India is moving ahead in absolute ranking as well,” Annette Dixon, Vice President, South Asia region, told reporters earlier in the day.
It will be only over a period of 1-3 years that the full impact of GST reform on ease of doing business can be assessed, she added.
The report captures reforms implemented in 190 countries between the period June 2, 2016 to June 1, 2017.
“India made paying taxes easier by requiring that payments are made electronically to the Employees Provident Fund and introducing a set of administrative measures easing compliance with corporate income tax,” the report stated.
The report noted that India has adopted 37 reforms since 2003 with nearly half of these reforms having been implemented in the last four years.
“India, with eight reforms, was one of this year’s top ten improvers worldwide and the leading regional performer. This is the first year that India is in the top 100 economies globally,” it said.
Bhutan, in 75th place in doing business rankings, is the highest ranked economy in South Asia, followed by India (100) and Nepal (105). The region’s lowest ranked economies are Afghanistan (183) and Bangladesh (177). Sri Lanka is at 111, Maldives at 136 and Pakistan is at 147 in the ease of doing business report.