5 Reasons for India's 23-Place jump in World Bank’s Doing Business Index
Listicle edited by contentmii on Fri, 02/08/2019 - 22:32Rank 52 (up from 189)
Construction Permits had a key role in India’s ascent up the rankings this year. Streamlining of processes made it faster and less expensive to obtain construction permits. By introducing decennial liability and insurance, India improved build quality control as well. The total time needed for obtaining construction permits reduced from 144 to 95 days.1 The cost for completing all procedures to build a warehouse slashed from 23.4 to 5.4% of country’s per capita income.2
Rank 80 (up from 146)
Trading Across Borders was the second most dominant factor which made India jump 23 positions in 2018.3 Significant reductions in time and cost to trade led to a 66 place jump in this indicator.4 Regular training was provided to both customs officials and private sector agents.4 Inspections became transparent and less frequent with the introduction of a robust risk management system.5 Other reforms included the electronic filing of documents for traders and the introduction of the electronic self-sealing container at the factory.6
Rank 137 (up from 156)
A jump of 19 places in this indicator is attributed to the reduction in time and procedures. Registration for multiple taxes was reduced to one - all taxes merged into a single Goods and Services Tax (GST).7 Multiple forms were integrated into a single form (SPICe) for incorporating a company.8 Apart from this, Mumbai also eliminated the requirement of site inspection for the grant of Registration under the Shops & Establishment Act.9
Rank 22 (up from 29)
Insolvency law was amended to give secured creditors absolute priority over other claims in insolvency proceedings.10 It further strengthened access to credit and improved strength of the legal rights index from 8 to 9.11 Getting Credit indicator has improved from 36 in 2014 to 22 in 2018.12
Rank 24 (up from 29)
Since 2014, this indicator has jumped 113 positions because of the various reforms undertaken. In continuation of ongoing reforms in this indicator, procedures were reduced from 5 to 3 in Delhi and 5 to 4 in Mumbai.13 In Delhi, getting electricity was made cheaper and faster. The cost for low voltage connections reduced by more than 30 per cent, while the time needed was reduced from 39 days to 31 days.14
