Turkey top improver for first time in Doing Business report


Overall, India has jumped 23 places to 77th rank in the rankings thanks to feedback from stakeholders that it is now significantly simpler to get construction permits and ship goods across the country's borders, among other things. The advance - the second big jump in a row - marks a huge step forward in Narendra Modi government's efforts to ease processes, project a business-friendly environment, and draw in foreign investment. "During this past year, Kenya has once again showcased itself as one of the global leaders in adopting worldwide best practices in business regulation", said the report released yesterday. "India, with six reforms, is among the top-ten improvers for the second consecutive year", the report said. Besides, the Congress has persistently pointed to what it calls the "failure" of PM Modi's "Make in India" initiative.

Pakistan has improved its ranking by climbing up 11 notches in World Bank's annual Doing Business Report 2019, a press release said on Wednesday.

The finance minister also added that the BJP government had reduced red-tape and corruption and that it was the reforms it introduced that ensured India's jump in the rankings.

Grant of a construction permit, trading across the borders, starting a business, getting credit, getting electricity and enforcing contracts showed improvement.

The reforms are a significant acceleration of the country's efforts to improve the business climate for domestic small and medium enterprises, according to the report.

With 13 reforms between them, China and India-two of the world's largest economies-are among the 10 top improvers.

India is the highest-ranked country in South Asia. On area where the changing nature of work is causing difficulty in Belgium's ease in doing business ranking is Belgium's Labor Act of 1971 which enacted laws which limit employing personnel on Sunday and for firms to operate on Sunday.

World Bank said India has further streamlined the process of obtaining a building permit and made it faster and less expensive to obtain a construction permit.

The average time and cost to register a business, for example, has declined from 59 days and 192% of income per capita in 2006 to 23 days and 40% of income per capita today. As a result, the time to start a business has been halved to 16 days, from 30 days. "India made paying taxes easier by replacing many indirect taxes with a single indirect tax, the GST, for the entire country". The regional average rank is 115 in getting credit.

India also performs particularly well in the area of Protecting Minority Investors, with a global rank of 7, and scoring a ideal 10 in the index measuring shareholders' rights and role in major corporate decisions. The reform applies to both Karachi and Lahore, the two cities measured by the Doing Business report.