A two member mission of World Bank is in India to review metrics relating to ease of doing business in India, a key promise of Prime Minister Narendra Modi government.
India is currently ranked 142 among 189 nations in World Bank’s Ease of Doing Business 2015 study. With the exception of two parameters (Getting credit and Protecting minority investors), India does not feature in the top 100 in the remaining parameters. For example in metrics such as ‘dealing with construction permits’ and ‘enforcing contracts’ parameters, India ranks in the bottom 10 economies as per the ranking, according to the study.
“A two member mission of the World Bank Group is visiting India to collect data and information for Doing Business Report, 2016. The members of the mission are: Ms. Nadine Abi-Chakra and Ms. Baria Nabil Daye,” a release from Ministry of Commerce and Industry said.
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It also said the team met with Ajay Tyagi Additional Secretary Department of Economic Affairs and other members along with other representatives from Department of Industrial Policy and Promotion (DIPP), Ministry of Corporate Affairs (MCA) and Central Board of Direct Taxes (CBDT).
Shailendra Singh, Joint Secretary of DIPP highlighted 10 measures taken by the government on the ease of doing business to the World Bank team. These included removal of minimum paid-up capital requirement for companies, only three documents required for exports and imports, removal of requirement of filing declaration of commencement for companies among others, as per the official statement.