Buying a gun is easier than opening a restaurant in Delhi. This is the analogy Chief Economic Advisor Krishanamurthy Subramanian gave for improving the ease of doing business (EoDB) situation in India.
Using a detailed PowerPoint presentation to explain the Survey, he said that 19 documents have to be submitted to the Delhi Police to buy a gun in India, while to open a restaurant, 45 documents are needed to obtain a license. In India, it takes about 18 days to complete 10 cumbersome procedures before setting up a business.
Cumbersome exercise
Though India has climbed up in the EoDB ranking to 63 from 142 during the last six years, it still trails in ease of starting a business, registering property, paying taxes and enforcing contracts. All these need to be taken upon an immediate basis, Subramanian said.
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