Thursday, 15 November, 2018

Israel stages Ease of Doing Business turnaround

India Jumps 23 Places on World Bank’s ‘Ease of Doing Business’ Rankings Credit Reuters
Elsie Buchanan | 01 November, 2018, 07:44

Prabhu said India's leap of 23 ranks in the ease of doing business ranking is significant considering that a year ago India improved its ranking by 30 places, a rare feat for any large country the size of India.

The report, which was released on Wednesday, showed that the country took a step backwards from her 145th position a year ago. The latest rankings released by the World Bank today show Israel climbing five places to 49th. She also highlighted that improvement was a result of combined effort under the Prime Minister s Steering Committee on Doing Business Reforms.

Buoyed by a 23-place jump on World Bank's ease of doing business ranking, finance minister Arun Jaitley on Wednesday said India can crack into top 50 if it improves on time taken for registering real estate, starting business and enforcement of contracts. "By implementing the Single Window Clearance System in Delhi and the Online Building Permit Approval System in Mumbai during the second half of 2017, India also continued to streamline and centralize its construction permitting process", it said.

The most dramatic improvements were registered in the indicators related to "Construction Permits" and "Trading across Borders". "If we do focused improvement, breaking into the top 50 is not out of reach", the minister said.

On the measure of absolute progress towards best practice, Pakistan improved score to 55.31, from 52.78 a year ago.

Saudi writer strangled: Turkish prosecutor
This was carried out as part of a premeditated plan, according to a statement by the chief prosecutor's office. Cengiz also told the memorial that she wishes she had entered the consulate instead of her fiance.


"We are incentivising those who are doing honest business", Ramesh Abhishek, an official in the industries department of Modi's government, told a news conference on Wednesday.

Macedonia, the United Arab Emirates, Malaysia and Mauritius are also among the business-friendly countries in the World Bank's top 20 that rank among the highest in Oxfam's list of unequal nations.

"While this is a great accomplishment which we must celebrate, I also encourage the government to persist in its efforts to address the remaining hurdles that affect the establishment and growth of SMEs in the country, a segment that is critical to the creation of more jobs and opportunities for Kenyan youth", said World Bank Kenya Country Director Felipe Jaramillo. "India, with six reforms, is among the top-ten improvers for the second consecutive year", the report said.

Reforms in both Enforcing Contracts and Registering Property are the most complex among all the Doing Business indicators in the context of India, due to the multiplicity of stakeholders involved. "India also made paying taxes less costly by reducing the corporate income tax rate and the employees' provident funds scheme rate paid by the employer", the report said. India made Paying Taxes easier by merging diverse sales taxes into a single General Sales Tax (GST). Since the launch of DB report in 2002, it is the first time that Pakistan has jumped 11 points in one year. The latest reform initiatives included electronic submission of documents and upgrading of port infrastructure. Israel fell to 60th place from 55th for getting credit, and three places to 29th for resolving insolvency.

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