India’s rank has been thought to improve in the reports of World’s Bank ‘Doing business’. While the laws of Bankruptcy and GST has been applied, this has given a boost to the ranking of India’s economy which was earlier struck at 130 but now it has been lifted to number 131.
Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek said that “We have had marginal improvement this year. But if you see in giving electricity connections, we have moved up 111 ranks in the last two years and the kind of reforms that we have done in construction permits, in starting a business and much more that are being done, it will be reflected and our rank should seriously improve next year.”
But he also mentioned that “it was “difficult” to put a number to India’s rank next year as it depends on how other countries perform, India has a very good macroeconomic situation in terms of fiscal deficit, inflation, foreign exchange balance and strong fundamentals.” Meanwhile, he urged prospective invitationals to attend the Vibrant Gujarat 2017 Summit which is going to be held on January 10-13.
