Whopee..!! India grabs 77th position in the Ease of Doing Business 2019 ratings..!
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New Delhi, February 12: Exploring the business sectors and the boosting start-ups in India, the World Bank Annual rating has positioned India 77th out of 190 countries in the ease of doing business. The rank of India improved to 77 in 2018 from 100 in 2017 and averaged 124.82 from 2008 until 2018, reaching an all time high of 139 in 2010 and a record low of 77 in 2018.
In its annual report 'Doing Business' 2019 report, World Bank said India improved on six of the 10 parameters relating to starting and doing business in a country.
These parameters include ease of starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts and resolving insolvency.
The Doing Business report presents results for two aggregate measures being the ease of doing business score (formerly called the distance to frontier score) and the ease of doing business ranking, which is based on the ease of doing business score. The ease of doing business ranking compares economies with one another whereas the ease of doing business score benchmarks economies with respect to regulatory best practice, showing the absolute distance to the best regulatory performance on each Doing Business indicator.
“When compared across years, the ease of doing business score shows how much the regulatory environment for local entrepreneurs in an economy has changed over time in absolute terms, while the ease of doing business ranking can show only how much the regulatory environment has changed relative to that in other economies”, reported the statement.
Economies are ranked on their business rate, from 1 to 190. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. The rankings are determined by sorting the aggregate scores on 10 topics, each consisting of several indicators, giving equal weight to each topic.