In World Bank's ease of doing business ranking list in 2018, India jumped 30 spots to secure a place among the top-100 countries. With this year's performance, India became the first ever country to record highest jump in the ranking.
Finance Minister Arun Jaitley who addressed a press conference on Tuesday said, "Historically India has been in the rage of 130-140. In last two years, we made it to 131, 130 places. This year we have jumped 30 points to 100. This is the highest jump any country has made in World Bank's ease of doing business ranking."
Commenting on the India's unprecedented performance in ease of doing business, Prime Minister Narendra Modi stated, "The 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. The report acknowledges India as a top improver with the highest jump in rank of any country in Doing Business Report, 2018. India is the only country in South Asia and BRICS economies to feature among most improved economies of the Doing Business Report this year."
After the latest rakings are out, Congress Vice President Rahul Gandhi on Wednesday mocked at Finance Minister Arun Jaitley with the spoof of a Ghalib couplet, saying everyone knows the "reality" of ease of doing business in India but "Dr Jaitley" prefers to delude himself.
सबको मालूम है “ease of doing business” की हकीकत, लेकिन
ख़ुद को खुश रखने के लिए "Dr Jaitley" ये ख्याल अच्छा है
— Office of RG (@OfficeOfRG) November 1, 2017
Jaitley immediately shot back at Gandhi, pointing out the difference between the Congress-led UPA and BJP-led NDA governments.
The difference between the UPA and NDA-“The ease of doing corruption has been replaced by the ease of doing business"
— Arun Jaitley (@arunjaitley) November 1, 2017
The World Bank's Ease of Doing Business index ranks the nation based on the 10 indicators. These indicators are: 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. Each one of these indicators carry equal weightage.