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India jumped 14 ranks to 63rd position in 17th edition of World Bank Ease of Doing Business 2020 report

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On October 23, 2019, According to the 17th edition of World Bank’s (WB) report ,“Doing Business 2020-Comparing Business Regulation in 190 Economies”, India has ranked 63rd in the list with the score of 71.0. It has improved by 14 places among 190 nations as against 77th position in the 2018-19 list. while in 2017, India was ranked 100.

India 63rd Position

Key points:
i.
The report captures 294 regulatory reforms implemented from May 2018 -May 2019 & India has improved in 6 of the 10 parameters used for ranking, including starting a business, dealing with construction permits, trading across borders, resolving insolvency, paying taxes and getting electricity.
ii. The central Government had set the target for India to break into the top 50 ranking for 2019, but that was missed.
iii. India has also joined the top-10 reforming countries in terms of economy for the third consecutive year.
Here’s the list of top 5 Countries in Ease of Doing Business Rankings 2020:

      Rank Country  Score
1 New Zealand 86.8
2 Singapore 86.2
3 Hong Kong, China 85.3
4 Denmark 85.3
5 Korea 84.0

iv.The top 10 reforming countries in the Ease of Doing Business are Saudi Arabia (62), Jordan (75), Togo (97), Bahrain (43), Tajikistan (106), Pakistan (108), Kuwait (83), Including China (31) and Nigeria (131).
About World Bank:
Motto
:Working for a World Free of Poverty
Formation: July 1945
Headquarters: Washington, D.C., U.S
President :David Malpass