New Delhi, Oct 24 (IANS) The World Bank will cover Kolkata and Bengaluru from next year for seeking inputs for its ‘Ease of Doing Business’ report.
It presently covers respondents from Delhi and Mumbai only and inclusion of two more metros is expected to reflect a better picture of ground realities.
Finance Minister Nirmala Sitharaman said that the government had urged the World Bank to include more cities for the Ease of Doing Business survey given India is a large and diverse country.
“From this coming year, the cities of Kolkata and Bengaluru would be included in the list of cities surveyed. So, the respondents would now be drawn not only from Delhi and Mumbai but also from Kolkata and Bengaluru,”she said.
The Centre has informed the state governments of West Bengal and Karnataka in this regard and hopes to ensure India finds its place in the first 50 countries in this key ranking.
India has recorded a jump of 14 positions against its rank of 77 in 2019, and it will be placed now at 63rd rank among 190 countries.
As per the World Bank report, India has improved its rank in 7 out of 10 indicators and has moved closer to international best practices.
Significant improvements have been registered in ‘Resolving Insolvency’, ‘Dealing with Construction Permits’, ‘Registering Property’, ‘Trading across Boards’ and ‘Paying Taxes’ indicators.
The recovery rate under resolving insolvency has improved significantly from 26.5 per cent to 71.6 per cent. The time taken for resolving insolvency has also come down significantly from 4.3 years to 1.6 years.
Finance Minister Sitharaman noted that the country needs to improve further on starting (new) business which is very critical. The Finance Ministry and the Industry ministry would work together to improve this.