India targets to achieve its position among top 50 of World Bank's report on Ease of Doing Business: Arun Jaitley

Finance Minister Arun Jaitley has said, India targets to achieve its position among the top 50 of the world Bank's report on Ease of Doing Business. The minister said, there is a huge scope for India to jump from 100th position in the coming months. 

India has jumped 30 positions and has been ranked at 100th position in world bank's 'ease of doing business' report 2018. Talking to reporters in New Delhi yesterday, Mr Jaitley said, as per the report, India is one of top ten countries which have undertaken structural reforms in ease of doing business. 

Mr Jaitley said, in ease of paying taxes, the country has jumped 53 places to 119. He said, India has done well this year in areas like resolving insolvency, reforms in taxation and providing electricity. He said, the country is still lagging behind in areas like building construction permits.

Mr Jaitley said, the implementation of GST has not been factored in the report as it took facts



and figures into consideration upto June.

Hailing India's jump in the report, Prime Minister Narendra Modi said, it acknowledges India as a top improver with the highest jump in rank of any country. In a series of tweets, Mr Modi said, India is the only country in South Asia and BRICS economies to feature among most improved economies. 

The Prime Minister said, Government has undertaken an extensive exercise of stakeholder consultations, identification of user needs, government process re-engineering to match Government rules and procedures with user expectations and streamline them to create a more conducive business environment. 

World Bank Vice President for South Asia, Annette Dixon said India is one of the top-10 improvers across the world on ease of doing business, this year. Talking to media, she said it is the highest amount of improvement across the region and the world as compared to other countries.