Reforms help India to enter 100 in ease of doing business

New Delhi Nov 1: World Bank has published doing business report for the year 2018 and India has been ranked 100.The country has taken a huge leap of 30 ranks compared to the last year 130. The World Bank has said that "India is one major country which has taken a huge jump in a single year and these are possible because of the reforms undertaken.

The world bank has prepared this report on 10 economic indicators and June 1 was taken off as the cutoff date.Finance Minister Arun Jaitley has said that "the world bank gives rankings based on a tough criterion and incorporates reforms after there affect is visible on ground and the report has not factored in GST"

India has improved its rank in 6 indicators out of 10.

# Resolving Insolvency: Rank 103 earlier 136
Reforms undertook: Insolvency and Bankruptcy code passed in 2016

# Paying Taxes :rank 119 ,earlier 172 ,highest jump of 53 positions
Reforms undertaken: payments time reduced, total tax rate reduced, Electronic registration payment, filing and return of ESI and EPF.

# Getting Credit: Rank 29, earlier 44
Reforms undertaken: Amendment of SARFESI Act.

# Protecting Minority Investors: 4, earlier 13.
Reforms undertaken: Greater transparency for interested party transactions.



# Enforcing Contracts :164 ,earlier 172
Reforms undertaken: Establishment of Commercial courts, Amendment of Arbitration Act

# Construction permit :181 ,earlier 185
Reforms undertaken: online single window system for faster approval of buildings procedures required to obtain contracts reduced to 30 from 35

# starting a new business: 156, earelier 155

# Getting electricity connection :29 earlier ,26

# Property registration :154 ,earlier 138

# Trade across borders:146,earlier 143

Finance minister Arun Jaitley has hoped that "India would improve its rankings in coming years as many more reforms undertaken would be felt effective and the reforms are works in progress and a lot needs to be done in Property registrations,enforcement of contracts and other areas and we have urged states to undertake reforms in the sector and India has the capacity to reach top 50."

China has secured 78 rank and showed no improvement.
Newzeland topped the list.