Question

The rank of India in Ease of doing business ranking 2020?

Answer 1

Answer: 63

Explanation:

India secured the 63rd position in the World Bank's Ease of Doing Business (EoDB) ranking for 2020. This ranking represents a significant improvement from India's previous positions, showcasing the country's efforts to create a more business-friendly environment.

The World Bank's Doing Business report is an annual publication that evaluates and ranks countries based on how easy it is to start and operate businesses within their borders. The report examines various parameters including 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.

India's rank of 63 in 2020 marked a notable improvement from its 77th position in 2019 and 100th position in 2018. This upward trajectory reflects the Indian government's sustained efforts to implement business reforms and simplify regulatory procedures. The improvement of 14 positions from the previous year demonstrated India's commitment to creating a more conducive environment for entrepreneurs and businesses.

Several key reforms contributed to India's improved ranking. These included streamlining the process of starting a business through online portals, simplifying construction permit procedures, enhancing the ease of getting electricity connections, and improving the overall tax payment system. The government's digitization initiatives and the implementation of the Goods and Services Tax (GST) also played crucial roles in this improvement.

It's important to note that the ranking is based on data primarily from Delhi and Mumbai, which serve as representative cities for India in this assessment. The report measures the regulatory environment and its impact on business operations, making it a valuable indicator for potential investors and policymakers to understand the country's business climate and areas that need further improvement.