Hyderabad has maintained its record in the ease of doing business by securing first place in two parameters — enforcing contracts and resolving insolvency — in the latest report released by the World Bank.
The World Bank report measuring business regulations, has surveyed 17 cities across the country in terms of starting a business, dealing with construction permits, registering property, paying taxes, trading across borders, enforcing contracts and resolving insolvency. The City of Pearls was ranked number two, next to Ludhiana, in terms of overall ease of doing business.
The World Bank said the methodology involved measurement of the time and cost for resolving a commercial dispute through a local first-instance court and the quality of judicial processes index, evaluating whether each economy has adopted a series of good practices that promote quality and efficiency in the court system.
In terms of resolving insolvency, the Bank said it had been measured on the basis of the time, cost and outcome of insolvency proceedings as well as the strength of the legal framework applicable to judicial liquidation and reorganisation.
Construction permitsHyderabad was placed fourth in terms of starting a business where New Delhi has been ranked first. The city has also been ranked fourth in terms of dealing with construction permits with Bengaluru leading in this category. Hyderabad, however, was placed 13th in paying taxes and trading across borders, the two parameters in which Ludhiana and Bhubaneshwar are ranked number one respectively. The city finds itself in the ninth place when it comes to registering property with Gurgaon leading all 17 cities in this category.
