Ease of doing business leads to ease of life

Real Estate Reuters file

Real Estate Reuters file

Prime Minister Narendra Modi, speaking at an event in New Delhi, applauded India's moving up in the World Bank Ease of Doing Business ranking, saying the global institution has "recognised (the) stupendous work done" by his government. "Vo aaj bhi Bharat ki ranking pe sawal utha rahe hain (some of these people are those who have been with the World Bank in the past, who are raising questions on India's ranking even today)".

Meanwhile, keeping GST reform aside - the World Bank's report stated that India has adopted 37 reforms since 2003.

The Prime Minister said that World Bank's ranking for 2018 hadn't factored in the implementation of GST. Earlier, India jumped 30 places to 100th rank in the World Bank's "ease of doing business" ranking, helped by a slew of reforms in taxation, licensing, investor protection and bankruptcy resolution. He also said, "Instead of questioning the ranking on the respective World Bank index, we should strive towards making India a better nation".

India is the only large country this year to have achieved such a significant shift.

"This report has not taken into account implementation of Goods and Services Tax". PM Modi taking a jibe at Congress said that if they issues like insolvency/bankruptcy code would have resolved during your times and you would have taken credit of India's improved ranking on ease of doing business.

The Prime Minister's remark came days after the Congress party dismissed the World Bank report on India's improved "ease of doing business" and mocked the National Democratic Alliance (NDA) government over the same. Modi said he does not want to sleep over the 30 place jump this year - the biggest leap by India ever, and want to do more. Prime Minister Modi said that his life's "only mission is to bringing change in the country and to its 1.25 billion people is my mission".

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