The inclusion of Bankruptcy Code law has taken a toll on it and now the Country Director Junaid Ahmad has confirmed that the World Bank will be including the same in their upcoming ‘Doing Business’ 2017 report along with Goods and Services Tax.
The Bankruptcy law was earlier discussed to be added into the constitutional rule book while engaging in the GST preview, worthwhile to note that the action to include such a significant amendment into the law has been taken very quickly with a positive note towards the economy of India
He said, “Our methodology had led to a very interesting response by different countries. We have learned that the complexity of understanding of doing business needs to change. So, our methodology will evolve as we are doing it right now,”
“Insolvency is going to ripple through the country in different ways. That too has not been picked up. I think you will be wrong to start looking at the methodology and be worried about it. If you unbundle the rankings below it, you will see that India continues on its trajectory.” he added.
