India is likely to move up in Ease of Doing Business report of World Bank

India was 77th among 190 countries in the previous ranking.

India is likely to see some improvement in the annual Ease of Doing Business report of the World Bank, to be issued on Thursday.

The country was 77th among 190 countries in the previous ranking, an improvement by 23 places compared to its position a year before.

Thursday's improvement is unlikely to be as much and, hence, the country's rank might not reach the Narendra Modi government's target of 50th place.

India had broken into the club of the first 100 such nations in the 2018 report, when it managed to jump 30 places.

The 2019 report had named this as "one of the economies with the most notable improvement" for a third year in a row.

India was adjudged the fifth best performing nation in reforming the business environment that year.

The country had improved its ranks in six of the 10 sub-categories used by the Bank to judge the business climate.

However, its ranking saw a decline in two more, on paying of taxes and resolving of insolvency.

This was despite the fact that India had introduced the goods and services tax in 2017 and the Insolvency and Bankruptcy Code a year before.

Business Standard