1. Ease of doing business: Centre powers up unique idea, here are details

Ease of doing business: Centre powers up unique idea, here are details

This new idea is part of this year's effort to improve the overall environment. The step comes in the midst of intense competition from states to improve their rankings in the list for which the process of making changes to rules is currently under way.

By: | New Delhi | Published: November 3, 2017 5:49 PM
Following the World Bank’s Ease of Doing Business report 2018, Centre has come up with a unique way to boost business across states and Union Territories (UTs). (IE/Representational Image)

Following the World Bank’s Ease of Doing Business report 2018, Centre has come up with a unique way to boost business across states and Union Territories (UTs). The government has come up with a plan where the state which is ranked higher for doing business will partner with a state which is ranked lower. If going by the information the higher ranked state will be categorised as the mentor and the lower ranked as partner. This means Telangana which was at top of the list will work with Tripura, which was ranked 26th among the 32 states and UTs. Similarly, Andhra Pradesh will work Kerala and Puducherry, Gujarat will help Andaman and Dadar and Nagar Haveli and so on, as per Times of India report. This new idea is part of this year’s effort to improve the overall environment. The step comes in the midst of intense competition from states to improve their rankings in the list for which the process of making changes to rules is currently under way. Unlike the last two lists, this time Department of Industrial Policy and Promotion (DIPP) is moving to a feedback-based ranking system, where stakeholder response to the changes will play a crucial role.

Earlier, on October 31, the World Bank had released its ‘ease of doing business report 2018’ which saw India take a giant leap of 30 places to enter the top 100 club. The World Bank’s Doing Business report assesses 190 economies on ten parameters — starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. For India, its two metropolitan centres New Delhi and Mumbai were ranked on top. India is the only large country this year to have achieved such a significant shift.

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