Know how India achieved a better ranking in Ease of Doing Business?
Thursday - October 24, 2019 11:41 am ,
Category : WTN SPECIAL
Prime Minister Modi’s other success
Possibility of increasing foreign investment in India; Economy to gain momentum and employment to increase
OCT 24 (WTN) - After all, the continuous efforts by the Modi Government have once again been successful. For your information, let us know that the World Bank has released the ranking of Ease of Doing Business. As a result of the efforts of the Modi Government, India has improved 14 places from its previous ranking in the Ease of Doing Business ranking released this time and India has now reached 63rd position.
Let us tell you in detail that what is the Ease of Doing Business and how will India benefit from improving its ranking? At the same time, we tell you what improvements the Modi Government has made to achieve a better position in this ranking?
First of all, for your information, let us know that every year the World Bank issues a list of countries with easy business. This list is called Ease of Doing Business. A total of 190 countries are included in this list. In fact, whenever a company has to do business in its own country or in another country, it is necessary to observe the company that where the doing of business is easy, wherever in its country or in any other country? The ranking of Ease of Doing Business is prepared on the basis of which country provides more and more business facilities to companies.
Several scales are studied to produce a ranking of Ease of Doing Business. Such as getting a construction permit early to start a business, easy credit, safeguarding small investors, simplification of tax, implementation of the right contract, easy access to electricity, registration of property, protection of minority investors and the insolvency process. For example, a ranking of Ease of Doing Business is prepared based on these parameters.
Modi Government has performed better on all parameters of ease of doing business ranking, after which India has secured a better position in the rankings. For your information, let us know that last year India was at 77th position in the list. But this time, India has reached 63 in the list released.
Now you must be wondering that what India will achieve by having better spans in Ease of Doing Business rankings. So it is important for you to know that since this ranking shows that doing business in India is now better than before, in this way, domestic and foreign companies will come forward to do business in India and more and more foreign investment to be seen in India soon.
The Modi Government is constantly trying to make business in India easier so that India can make it to the top 50 countries in the Ease of Doing Business ranking. For your information, let us know that the better India's position in Ease of Doing Business ranking, the more foreign companies will invest in India. If foreign companies invest in India, then this will accelerate the economy and provide the chances of employment.
Ever since Narendra Modi has become the Prime Minister of India, he has made a lot of efforts to remove the hassles in business in the country, thereby clearing the way for foreign investment in the country. When Narendra Modi became Prime Minister in the year 2014, India was ranked 142 in the 190 countries list of Ease of Doing Business. Due to the efforts of Prime Minister Modi, India has continuously improved this ranking.
In the year 2017, India was ranked 100 on the list of 190 countries. In the year 2018, India was ranked 77th on the list of Ease of Doing Business. For your information, let us say that New Zealand is at the top of this year in the ranking of Ease of Doing Business released this time. After that comes the number of countries like Singapore, Hong Kong, and Denmark respectively.
There was a time when it was very difficult for any company to do business in India due to many complicated rules and red-tapism. For this reason, domestic companies used to face problems and foreign companies were reluctant to do business in India. But after becoming Prime Minister, Narendra Modi understood the difficulties faced in doing business and started working towards reducing them in a planned way.
In order to make the business easier for the businessmen, the Modi Government has simplified the rules and made the process of obtaining the license required for the business easier. At the same time, there are many steps including ease of availability of loans for business, reduction in tax and availability of electricity smoothly, so that the businessmen do not have to face trouble in doing business.
The result of these efforts of the Modi Government is that India has done well this time in Ease of Doing Business. It is to be hoped that the efforts being made by the Modi Government will show foreign business interest in India, which will increase foreign investment in India and increase employment opportunities.
OCT 24 (WTN) - After all, the continuous efforts by the Modi Government have once again been successful. For your information, let us know that the World Bank has released the ranking of Ease of Doing Business. As a result of the efforts of the Modi Government, India has improved 14 places from its previous ranking in the Ease of Doing Business ranking released this time and India has now reached 63rd position.
Let us tell you in detail that what is the Ease of Doing Business and how will India benefit from improving its ranking? At the same time, we tell you what improvements the Modi Government has made to achieve a better position in this ranking?
First of all, for your information, let us know that every year the World Bank issues a list of countries with easy business. This list is called Ease of Doing Business. A total of 190 countries are included in this list. In fact, whenever a company has to do business in its own country or in another country, it is necessary to observe the company that where the doing of business is easy, wherever in its country or in any other country? The ranking of Ease of Doing Business is prepared on the basis of which country provides more and more business facilities to companies.
Several scales are studied to produce a ranking of Ease of Doing Business. Such as getting a construction permit early to start a business, easy credit, safeguarding small investors, simplification of tax, implementation of the right contract, easy access to electricity, registration of property, protection of minority investors and the insolvency process. For example, a ranking of Ease of Doing Business is prepared based on these parameters.
Modi Government has performed better on all parameters of ease of doing business ranking, after which India has secured a better position in the rankings. For your information, let us know that last year India was at 77th position in the list. But this time, India has reached 63 in the list released.
Now you must be wondering that what India will achieve by having better spans in Ease of Doing Business rankings. So it is important for you to know that since this ranking shows that doing business in India is now better than before, in this way, domestic and foreign companies will come forward to do business in India and more and more foreign investment to be seen in India soon.
The Modi Government is constantly trying to make business in India easier so that India can make it to the top 50 countries in the Ease of Doing Business ranking. For your information, let us know that the better India's position in Ease of Doing Business ranking, the more foreign companies will invest in India. If foreign companies invest in India, then this will accelerate the economy and provide the chances of employment.
Ever since Narendra Modi has become the Prime Minister of India, he has made a lot of efforts to remove the hassles in business in the country, thereby clearing the way for foreign investment in the country. When Narendra Modi became Prime Minister in the year 2014, India was ranked 142 in the 190 countries list of Ease of Doing Business. Due to the efforts of Prime Minister Modi, India has continuously improved this ranking.
In the year 2017, India was ranked 100 on the list of 190 countries. In the year 2018, India was ranked 77th on the list of Ease of Doing Business. For your information, let us say that New Zealand is at the top of this year in the ranking of Ease of Doing Business released this time. After that comes the number of countries like Singapore, Hong Kong, and Denmark respectively.
There was a time when it was very difficult for any company to do business in India due to many complicated rules and red-tapism. For this reason, domestic companies used to face problems and foreign companies were reluctant to do business in India. But after becoming Prime Minister, Narendra Modi understood the difficulties faced in doing business and started working towards reducing them in a planned way.
In order to make the business easier for the businessmen, the Modi Government has simplified the rules and made the process of obtaining the license required for the business easier. At the same time, there are many steps including ease of availability of loans for business, reduction in tax and availability of electricity smoothly, so that the businessmen do not have to face trouble in doing business.
The result of these efforts of the Modi Government is that India has done well this time in Ease of Doing Business. It is to be hoped that the efforts being made by the Modi Government will show foreign business interest in India, which will increase foreign investment in India and increase employment opportunities.
