English हिन्दी
Connect with us

Latest business news

India once again makes remarkable progress in Ease of Doing Business, jumps 23 ranks

Published

7 years ago

on

Business

India has improved its rank in six out of the 10 indicators and has moved closer to international best practices on seven out of 10 indicators.

India jumped 23 ranks from last year to get 77th rank in the World Bank’s latest Ease of Doing Business rankings, a news that is likely to bring cheer for the Narendra Modi-government in an election year.

The jump is significant, as it comes after last year’s 30-rung climb when India moved into the top 100 rankings among 190 countries.

The report also recognises India as one of the top 10 improvers in this year’s assessment, for the second successive time. India is the only large country this year to have achieved such a significant shift.

India has improved its rank by 53 positions in the last two years, and 65 positions in the last four years (2014-18).

When the NDA came to power in 2014, India stood 142nd in World Bank’s ‘Doing Business’ list.

“We have made progress in leaps and bounds, probably the most significant in the history of Ease of Doing Business,” Union Finance Minister Arun Jaitley said, underscoring that to make significant progress, one has to “literally crack the code” and work on the bottlenecks.

The latest jump comes in an election year, as the government is under opposition attack for the rise in petrol prices, the fall of the rupee and the differences with the Reserve Bank of India. Besides, the Congress has persistently pointed to what it calls the failure of PM Modi’s ‘Make in India’ initiative. Congress chief Rahul Gandhi has consistently attacked the government, saying instead of Make in India, “Everything is made in China”.

The improved ranking will boost the sentiment of Prime Minister Narendra Modi’s government ahead of the general election, at a time it’s facing flak for rising fuel prices and falling rupee. Last year, Finance Minister Arun Jaitley had said Modi wanted various ministries to target the top 50, which he thought was “doable”.

In this year’s assessment, on the “distance to frontier metric”, a measure to gauge how far an economy’s policies are from global best practices, India’s score improved to 67.23 from 60.76 last year.

This means last year India improved its business regulations in absolute terms – indicating that the country is continuing its steady shift towards global standards.

“India continued its reform agenda, implementing six reforms in the past year. India is now the region’s top-ranked economy,” the World Bank said, ahead of Bhutan (81) and Sri Lanka (100), Nepal (110), the Maldives (139), Pakistan (136) and Afghanistan (167) and Bangladesh (176).

India has improved its rank in six out of the 10 indicators and has moved closer to international best practices on seven out of 10 indicators.

The checklist includes ease of starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts and resolving insolvency, reported news agency Press Trust of India.

The most dramatic improvements have been registered in the indicators related to ‘Construction Permits’ and ‘Trading Across Borders’.

In the ‘Grant of Construction Permits’ indicator, India’s ranking improved from 181 last year to 52 in this year’s report—a jump of 129 ranks in a single year.

In the ‘Trading Among Borders’ indicator, India’s rank improved by 66 positions, moving from 146 in 2017 to 80 in 2018.

India reduced the time and cost to export and import through various initiatives, including the implementation of electronic sealing of containers, the upgrading of port infrastructure and allowing electronic submission of supporting documents with digital signatures, the World Bank said.

The other improvements come through the GST, which wasn’t included in last year’s ranking, and the Insolvency and Bankruptcy Code (IBC). The GST made it easier to start businesses as it integrates multiple application forms into a single general incorporation form. World Bank said this speeds up the registration process.

India, the report said, has not only made paying taxes easier, but also made it less costly by reducing the corporate income tax rate and the employees’ provident funds scheme rate paid by the employer.

The amendements to the IBC also strengthened access to credit, the report said. “Secured creditors are now given absolute priority over other claims within insolvency proceedings.”

Marking areas where the country still needs to improve, Finance Minister Jaitley mentioned starting of business, in which the country ranked 137, paying taxes and enforcing of contracts, which he said “remains poor”.

Besides, in registering property, the country’s ranking fell to 166 from 92 when Modi took over, a report in BloombergQuint added. It takes over two months in India to register for property and the procedures end up costing almost 8 percent of the property value.

India’s efforts in protecting minority investors also stagnated. Its rank fell from fourth in the world to seventh, with no improvement in reforms. Similarly, in paying taxes, the ranking slipped by two places to 121 this year.

Enforcing contracts still remains a huge problem, with the country’s rank at 163. The World Bank report shows that it takes more than three years to enforce a contract and it ends up costing a third of the claim value itself.

In the World Bank Group’s annual ease of doing business rankings, the top 10 economies are New Zealand, Singapore and Denmark, which retain their first, second and third spots, respectively, for a second consecutive year, followed by Hong Kong SAR, China; Republic of Korea; Georgia; Norway; United States; United Kingdom and FYR Macedonia.

Related Topics:
Continue Reading

India News

Union Budget 2026 highlights: Nirmala Sitharaman Raises Capex to Rs 12.2 Lakh Cr, West Bengal Gets Major Allocation

Finance Minister Nirmala Sitharaman is presenting the Union Budget 2026 in Parliament today. Follow this space for live updates, key announcements, and policy insights.

Published

2 days ago

on

February 1, 2026

By

Finance Minister Nirmala Sitharaman arrives to present Union Budget 2026

Finance Minister Nirmala Sitharaman will shortly present the Union Budget 2026 in the Lok Sabha, marking her ninth consecutive Budget. The annual financial statement is expected to outline the government’s policy priorities, reform agenda and spending plans for the coming year. Stay tuned for live updates, key announcements and immediate reactions as the Budget speech unfolds.

Finance Minister Nirmala Sitharaman tabled her ninth Union Budget today, beginning her speech at 11 am.

Nirmala Sitharaman is set to present her ninth Union Budget today, with the finance minister scheduled to begin her speech at 11 am.

Budget 2026 live updates: Presenting the Union Budget for 2026–27, Finance Minister Nirmala Sitharaman said the occasion coincided with Magh Purnima and the birth anniversary of Guru Ravidas. She noted that over the past 12 years, India’s economic journey has been defined by stability, fiscal discipline, sustained growth and moderate inflation.

The budgeted fiscal deficit for fiscal 2026 is estimated at 4.4 per cent of gross domestic product (GDP)

Planned capital expenditure this fiscal year Rs 11.2 lakh crore

Rare earth corrdiors in Odisha and Kerala

Hi-tech tool rooms to be set up by PSUs

Construction equipment scheme to be launched

Container manufacturing scheme for Rs 10,000 crore over 5 years

Rs 10,000 crore SME Growth Fund

Semi-conductor mission to get Rs 40,000 crore

Rs 12.2 lakh crores for infrastructure development

Dedicated RITES to repurpose land of Central PSUs

20 new waterways over next 5 years to be connected

7 high-speed corridors on rail

High-level committee on banking for next phase of Viksit Bharat

Capital expenditure hike of to ₹12.2 lakh crore in Budget 2026, with West Bengal receiving a significant share of allocations.

Mahatma Gandhi Gram Swaraj Initiative aimed at boosting the khadi, handloom, and handicrafts sectors.

High-speed rail corridors: Mumbai-Pune, Pune-Bengaluru, Hyderabad-Bengaluru, Chennai-Bengaluru, Delhi-Varanasi, Varanasi-Siliguri, Pune-Hyderabad

Five university campuses to be established near industrial corridors

Lakpati Didi program expanded in Budget 2026 to reach more beneficiaries across India.

Fiscal deficit for FY26 revised to 4.4%; Budget Estimate for FY27 set at 4.3%.

TCS on overseas tour packages cut to 2% to ease travel costs

Tax holiday to foreign companies that provide cloud services by setting up data centres in India till 2047

17 cancer drugs exempted from import duties

Continue Reading

India News

Union budget 2026 to be presented on Sunday with special trading session

The Union Budget 2026 will be presented on a Sunday for the first time in over two decades, with NSE and BSE announcing special trading sessions for the day.

Published

3 days ago

on

January 31, 2026

By

Nirmala Sitharaman

For the first time in more than two decades, the Union Budget will be presented on a Sunday. Finance Minister Nirmala Sitharaman is scheduled to table the Union Budget for 2026 in the Lok Sabha on February 1 at 11 am, even as the day is usually observed as a holiday for government offices and financial markets.

February 1 falls on a Sunday this year, raising questions about market operations and investor response. To ensure uninterrupted trading and immediate market reaction to budget announcements, stock exchanges have announced special arrangements for the day.

Markets to remain open on budget day

Both the National Stock Exchange and the Bombay Stock Exchange have confirmed that markets will remain open on February 1. The NSE has announced a special trading session, with the pre-open market scheduled from 9 am to 9:08 am, followed by normal trading hours from 9:15 am to 3:30 pm.

The BSE has also declared the day a special trading day, with regular market hours applicable. Trading is expected to continue across equity, derivatives, and futures and options segments.

What the Sunday budget means for investors

A weekend budget presentation is seen as offering certain advantages for market participants. With trading active on the same day, investors will be able to respond to policy announcements immediately rather than waiting for the next working day.

The Sunday timing also gives investors, analysts, and financial institutions additional time to go through detailed proposals, including tax changes, fiscal deficit targets, and sector-wise allocations. The extended window for analysis may help reduce sharp, headline-driven reactions and encourage more informed decision-making.

With fewer competing developments on a non-working day, budget announcements are also expected to receive more focused attention from markets and stakeholders.

Parliamentary schedule and key milestones

The Economic Survey is expected to be tabled on January 29, ahead of the budget presentation. The Budget Session of Parliament began on January 28 with the President’s address to a joint sitting of the Lok Sabha and Rajya Sabha.

The upcoming budget will mark Nirmala Sitharaman’s ninth consecutive Union Budget. It will also be India’s 80th budget since Independence. Since 2017, Union Budgets have been presented at 11 am on February 1, following a timing change introduced during the tenure of former finance minister Arun Jaitley.

Continue Reading

India News

Modi says right time to invest in Indian shipping sector; meets global CEOs

Published

3 months ago

on

October 29, 2025

By

PM Narendra Modi

Prime Minister Narendra Modi on Wednesday exhorted global investors to take bets on the Indian shipping sector, pointing out that this is the “right time” for such a move.

The Prime Minister also met a select chief executives of global majors, including DP World and APM, at a specially convened meeting on the sidelines of the India Maritime Week 2025 held here.

“For all of you hailing from different countries, this is the right time to work in the Indian shipping sector and also expand (your presence),” Modi said during a public address before the closed-door meeting with CEOs.

Modi listed several targets being chased by India in the maritime sector over the next few years, and underlined the importance of the global community in the same.

“You all are an important partner who will help us achieve all our aims. We welcome your ideas, innovations and investments,” Modi said.

He said that India allows 100 per cent foreign direct investment in the shipping and ports sector, and also provides incentives under the “Make In India, and Make For The World” vision.

Addressing an audience, including leaders of various companies, the Prime Minister affirmed India’s commitment to strengthening the supply chain resilience at a global level.

He also said that India is engaged in creating world-class mega ports, and cited the work undertaken on the Vadhavan Port to the north of the financial capital, which entered the top-10 firms in the world on the first day.

The government is also looking to grow the capacity at 12 major ports by four times and increase India’s share in containerised cargo at the global level.

Later, Modi held a meeting with top CEOs of shipping sector companies from across the world.

As per people in the know, he met AP Moller-Maersk Chairman Robert Maersk Uggla, DP World Group Chairman Sultan Ahmed bin Sulayem, Mediterranean Shipping Company Chief Executive Soren Toft, Adani Ports and SEZ Managing Director Karan Adani and French company CMA-CGM’s Senior Vice President Ludovic Renou.

The participation from over 85 countries in the IMW sends a strong message, Modi said, noting the presence of CEOs of major shipping giants, startups, policymakers, and innovators at the event.

The Prime Minister also thanked Port of Singapore (PSA) for the nearly Rs 8,000 crore investment in the Jawaharlal Nehru Port Authority’s fourth terminal, pointing out that this is also the largest FDI in the port sector in India.

Modi said more than 150 new initiatives have been launched under the ‘Maritime India Vision’, resulting in nearly doubling the capacity of major ports, a substantial reduction in turnaround time, and a new momentum in cruise tourism.

—PTI

Continue Reading

Trending

© Copyright 2022 APNLIVE.com