Union Minister of State for Commerce and Industry Nirmala Sitharaman expressed her disappointment over India’s low rank in World Bank doing business index and its failure to achieve the set deadline. In her reaction on Twitter she wrote, ” Disappointed at our rank this year. Many of our reformatory steps were after WB deadline. Hopefully, with other steps, will help next year.”
Her reaction came in the backdrop of World Bank’s fresh data released today about doing business in various countries across the globe. In the latest ‘Doing Business’ report,
India’s place remained unchanged from last year’s original ranking of 130 among the 190 economies that were assessed on various parameters.
Disappointed at our rank this year. Many of our reformatory steps were after WB deadline. Hopefully, with other steps, will help next yr. http://t.co/uE8kG3JYW0
— Nirmala Sitharaman (@nsitharaman) October 25, 2016
However, last year’s ranking has now been revised to 131 from which the country has improved its place by one spot. The World Bank’s report came at a time when Narendra Modi-led government is patting its back over the different initiatives it has taken over the last 2 years that is expected to bring unprecedented economic growth in the near future.
In the same vein, the government has been making efforts to improve the ease of doing business and its stated claim is to bring the country up into the top 50.
In his reaction, Economic Affairs Secretary Shaktikanta Das said, ” Many more measures in the pipeline to improve ease of doing business; hope we will get a better rank next year.”