After India\u2019s made rapid progress in the World Bank\u2019s \u2018Ease of Doing Business\u2019 rankings, indicated by a 53 spot jump in just two years, fund manager Nilesh Shah noted that filing income tax returns in India is much simpler than filing in the United States. In an interview to CNBC TV18, Nilesh Shah said, \u201cWe keep talking about having this hurdle, and that hurdle in India, but go and try to file income tax return in the US and you will realize filing income tax return in India is much simpler.\u201d He was responding to a question on the various regulatory hurdles in India, despite a massive jump in ease of doing business ranking improvement.\u00a0 \u00a0 According to Nilesh Shah, given some of the powerful forces in financial services, such as disintermediation, digitization, differential regulation, and the overall formalization of the economy, savings and financialization of assets, household borrowings were low indicating a huge opportunity for the whole NBFC-housing finance companies space. \u201cWith the added liquidity advantage, particularly post demonetization, they have grown much faster,\u201d he noted. Also read:\u00a0Share market LIVE updates: Sensex recovers from day\u2019s low, Nifty reclaims 10,600; Yes Bank, Asian Paints up 4% After being an underdog for years, India finally showed a huge progress on the World Bank\u2019s Ease of Doing Business ranking by jumping 53 ranks in the last two years. Yet, the dream to enter the \u2018top 50\u2019 club remained incomplete. After breaking into top 100 leapfrogging 30 ranks last year, India took a giant leap of 23 ranks this year to secure 77th rank on back many reforms. However, Finance Minister Arun Jaitley said that there were many areas where the country needed significant improvement if it wished to continue with the success streak and make it to top 50 by next year. Jaitley said that India can crack into top 50 if it improves on parameters such as time taken for registering real estate, starting business and enforcement of contracts.