India ranks 130 in World Bank's 2016 rankings of Ease of Doing Business

India has been placed at 130th position among the 189 countries in the recently released World Bank’s 2016 rankings of Ease of Doing Business Report.
In this edition of list, India has moved up by four spots in the global rankings compared to earlier 134th rank in recalculated 2015 rankings.
Key highlights of report

• India is one of the countries that have made the most improvement, capturing the initiative of the government in a separate section.
• It has made the biggest improvement among the South-Asian countries in business regulations.
• India has made large improvements in two indicators, starting a business (155th rank) and getting electricity (70th rank).
• Top 10 Countries: Singapore (1st), New Zealand (2nd), Denmark (3rd), South Korea (4th), Hong Kong (5th), United Kingdom (6th), United States (7th), Sweden (8th), Norway (9th) and Finland (10th).
• BIRCS Nations: India ranks lowest in Doing Business among the BRICS nations. Russia (51), South Africa (73), China (84), Brazil (116) and India (130).
• India’s Neighbours: Bhutan (71), China (84), Nepal (99), Sri Lanka (107), Maldives (128), Pakistan (138), Bangladesh (174).

About the Ease of Doing Business ranking

• It is annually released by World Bank in its Doing Business Report.
• Ranking of country in this list is based on index averages the country’s percentile rankings on 10 indicators each having equal weightage.
• A higher ranking of country in this list means that its regulatory environment is more conducive and favourable for the starting and operation of firms.
• 10 indicators are: business, getting electricity, dealing with construction permits, registering property, protecting investors, getting credit, employing workers, trading across borders, paying taxes, enforcing contracts and resolving insolvency.

Month: Current Affairs - October, 2015