India ranked 134th in 'Ease of Doing Business' list: World Bank

As per the latest ‘Ease of Doing Business’ rankings of 189 economies released by the World Bank, India has fallen three spot to 134^th rank. In terms of ‘starting a business’ India has been positioned lower at 179^th. This is when the government is making efforts to improve the business environment in the country. The list is topped by Singapore.

As per the list the top performing nations are:

1. Singapore
2. Hong Kong
3. New Zealand
4. United States
5. Denmark
6. Malaysia
7. Korea
8. Georgia
9. Norway
10. United Kingdom

What are the various parameters taken into account to prepare these rankings?

The ranking of countries are based on various parameters including starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. 

What does a high ranking mean?

A high ranking on the ease-of-doing-business list indicates that the government has created a regulatory environment conducive to operating a business. However, these rankings do not measure all aspects of the business environment that matter to firms and investors or that affect the competitiveness of the economy.

Month: Current Affairs - November, 2013