And for a Friday….. World Bank “Ease of Doing Business Report” released. India beats all records, highest jump in rankings…..
World bank ranks countries on basis of Business Regulations. The higher the Rankings better the ease of doing business and easier to start and operate a business, less corruption, less bureaucratic red tape, transparent Rules and Regulations. It is no surprise that New Zealand is number one, Singapore at 2 and Denmark at 3. But India has done phenomenally well and moved from 144 in 2014 to 77 in 2018 based on Aggregate score on 10 Topics each consisting of several indicators as on May 2018.
Indian performance must be appreciated in comparison to UK and US. For publicly listed companies, the parameter for protecting Minority Investors interest, India is at rank 7 compared to UK at 15 and US at 50. For getting credit, India is at 22, UK is at 32 and US is at 3. But there are lots of areas where India has to still improve. Starting a Business – rank 137, Registering Property – 166 and Construction Permits – 52.
Lot of changes has enabled the progress. Aadhar, Demonetisation, Introduction of GST, Benami Transaction Act, Insolvency and Bankruptcy Code (IBC) etc. etc. Bottom line is, The Elephant has moved but lots more need to be done. Redtape, corruption and babudom must drastically reduce.
In my second Innings, living equal time in Mumbai (BJP/ShivSena), Bangalore ( Congress/JDS), Trivandrum ( Marxist/ left ) – all Politicians are the same. They want more economic growth, more employment and reduce Poverty. Let’s all do it together, the Ethical way, the Transparent way, the SEEGOS way.