World Bank’s Senior Vice-President and Chief Economist Kaushik Basu said on Wednesday that India moved up only four places not 12 -- from 134 to 130.
Confusion prevailed over whether the World Bank ranking of India’s ease of doing business improved by 12 points or moved up only four places.
The Confederation of Indian Industry and the Federation of Indian Chambers of Commerce and Industry, too, noted India’s improvement was by 12 notches.
However, World Bank’s Senior Vice-President and Chief Economist Kaushik Basu said on Wednesday that India moved up only four places -- from 134 to 130.
The confusion arose because India was ranked 142 last year, but in the latest report it was revised to 134 based on new methodology.
The rise was primarily on account of improvement in two areas -- ease of starting a business and securing an electricity connection.
Meanwhile, World Bank country director Onno Ruhl said at a media briefing in New Delhi: “Last year, India was ranked 142 and this year, 130.
There is no doubt about it.
You can read last year’s report.”
WHAT THE WORLD BANK SAYS
- India is ranked 8 globally in protection of minority investors, ahead of many developed economies including the US, Germany and Japan
- The proposed Goods and Services Tax law is the most important reform towards creating a single market in India. If implemented by April 2016, its impact will be visible by 2018
Image: A school girl holds the Indian tricolour aloft at a rally in Kolkata. Photograph: Jayanta Shaw/Reuters
