India improved its ranking on the World Bank’s ‘ease of doing business’ report for the second straight year, jumping 23 places to the 77th position on the back of reforms related to insolvency, taxation and other areas. India was ranked 100th in the World Bank’s Doing Business report last year. The ranking comes as a shot in the arm for the Narendra Modi government which faces strong dissenting voices from opposition parties ahead of the general elections next year.
In its annual ‘Doing Business’ 2019 report, World Bank said India improved its rank on six out of the 10 parameters relating to starting and doing business in a country. India was ranked at the 142nd position among 190 nations when the Modi government came to power in 2014. It rose to the 100th spot in the last ranking from the 131st rank in the previous year.
New Zealand tops the list of 190 countries in ease of doing business, followed by Singapore, Denmark, and Hong Kong. The United States is placed eight and China has been ranked 46th. Neighbouring Pakistan is placed at 136. World Bank put India among the top 10 economies to make the most improvements.