India’s advancement by 30 points to 100th in ease of doing business (EDB) rankings has been considered a good achievement by many.
The lower the ranking the better is its position. A section of observers think that this will pave the way for higher investment in the economy. This is particularly important at a time when a continuing drought situation in new investment in the economy has been a cause of concern. The World Bank started ranking in EDB in different economies of the world since 2003. Moody’s better rating of Indian Economy has also considered EDB’s better ranking. At that time only 133 countries were included. But in the present ranking in 2018 as many as 190 countries are included. There are 10 heads on which the ranking is based. These are 1) starting a business 2) dealing with construction permits 3) getting electricity 4) registering property 5) getting credit 6) protecting minority interest 7) paying taxes 8) trading across borders 9) enforcing contracts 10) revolving insolvency. There is another head, that is, labour aspect which has been kept out of computing.
Some methodological criteria for measuring EDB
The method of computation is changing. Therefore a debate arises regarding comparison between before 2015 ranking and after that.
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