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India has managed to improve its ranking in the latest World Bank report on ease of doing business, ranking 77th, gaining 23 places. In recent months, the central government has taken specific measures to remove the obstacles to doing business in the country, identified by the multilateral agency.
These include streamlining processes in cross-border trade, municipal land and building approvals, and contract compliance. The idea is to cut red tape, reduce costs and time required for business transactions and improve the effectiveness of governance.
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No financial urgency: Jaitley
There is no financial urgency. Communication between the central bank and the government has never been made public: Jaitley in Section 7.
GST is an ongoing process: Jaitley
Execution of contracts, taxation, insolvency. These are areas where legislation has already taken place. The GST itself is also an ongoing process. Now that technology has an edge, you need to design a blueprint for the entire country: Jaitley
I prefer the resolution that dissolution: Jaitley
In the event of insolvency, given the history of bad debts granted, this will depend on several factors. The preference for us will always be the resolution that dissolution: Jaitley.
In the event of insolvency, we went from 137 to 108: Jaitley
As far as insolvency, we went from 137 to 108. We are now 77 and the most obvious areas are: registration of a company, enforcement of contracts, taxation, insolvency.If we Let's improve these areas in a targeted way, reaching the 50th rank is not out of reach.
Having to improve the criterion we are missing: Arun Jaitley
When we came to power, the Prime Minister said we should be in the top 50. Today, we are in 77th place. DIPP worked on how to improve the ranking for each criterion. You must decipher the code and try to improve the criterion we are missing: Arun Jaitley.
Need to fill in the gaps: Jaitley
Such a jump may never have occurred. We must take more action. We must try to improve the criteria that make us late: Jaitley.
Improvement since the takeover of this government: Jaitley
The World Bank report on the BED is generally released after October and reforms undertaken until 1 May are taken into account. When the government was formed, it was already May 26th. The 2015 report was published in October 2014. Where were we in 2014 according to the 2015 report and where did we come in four years? We were at 142 when this government came to power: Arun Jaitley
The government will allow people to make new business: Prabhu
This is the beginning of a new process, in which the government will allow people to make new business. How can we improve the ease of doing business in the districts? If we can improve this, the result will be a national EDB. This will allow start-ups to do business. Because the regulations that were developed for start-ups are old, so we have to change that: Suresh Prabhu.
The government will continue to take further reform measures: Suresh Prabhu
This collaborative effort has been very successful and has resulted in a significant improvement. As we go along, we will continue to improve it further. Structural changes will bring many benefits. The government will continue to take further reform measures: Suresh Prabhu.
Revolutionary reforms and technological changes to thank for: Suresh Prabhu
This is a very good news around Diwali. If we can improve the ease of doing business, India can grow faster. For a very long time this was not the case. The constant improvement over the past two years has been a phenomenon. There have been decisive reforms as well as technological changes: Suresh Prabhu, Minister of Trade and Industry.
The GST reforms will be the subject of in-depth consideration next year: secretary of the DIPP
Our GST reforms will find complete reflections next year. Our ranks will go up. We hope that the prompt processing of business will improve our rank: Ramesh Abhishek, Secretary, DIPP.
Use of Government Technology: DIPP Secretary
This year, we need to see more companies than cash. It's something that happens over a period of time. Excellent support from the apex level. We met the stakeholders separately. The use of technology has been the hallmark of the government. We know that the GST is a fully electronic network: Ramesh Abhishek, DIPP secretary.
"Simplified online one-stop processes"
The online one-stop shop in Delhi and Mumbai has streamlined the process. Procedures have been reduced from 37 to 20 in Mumbai and 24 to 16 in Delhi: Ramesh Abhishek, secretary of the Department of Industrial Policy and Promotion (DIPP) of Ease of Doing Business dealing with building permits, reports ANI.
«India is among the top 10 improvement agents for the second year in a row»
India is recognized among the top 10 improvement agents for the second year in a row. India now ranks first among South Asian countries compared to 6th place in 2014: Ramesh Abhishek, Secretary of the Department of Industrial Policy and Promotion (DIPP), reports ANI.
Jumping 23 places since last year
India ranks 77th in the World Bank's "Ease of Doing Business" index. India has recorded a jump of 23 positions against its rank of 100 in 2017.
