Politics Insight News Without Politics
(Pi Bureau)
Virendra Singh Rawat
Business Writer
The Yogi Adityanath government in Uttar Pradesh will leverage the unprecedented jump of India in the World Bank’s ranking of ‘Doing Business 2018’ to its advantage by wooing investors and selling its potential growth story.
In the World Bank’s survey report ‘Doing business 2018’ released Tuesday, India has for the first time broken into the top 100 from the last year’s place of 130.
Yogi is currently in the island nation of Mauritius to attract investment. Before leaving for Mauritius, Yogi while congratulating the Centre said his government would take positive mileage for greater pie of inward investment and faster industrialisation.
He maintained the improved rankings would help generate more jobs for the youth and accelerate economic development. Yogi also wished India would further improve its ranking.
According to the report, doing business in India had become easier, which has been seen as an endorsement of the economic policies pursued by the incumbent Narendra Modi government at the Centre after coming to power in May 2014.
Over the past year, the Modi regime has implemented, even in the face of stiff opposition not only from other parties but within and even its ideologue RSS, radical economic and fiscal changes including demonetisation, Goods and Services Tax (GST) etc.
The World Bank report ranks countries over 10 different indicators viz. starting business, dealing with construction permits, getting credit, property registration, getting power, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
The report further said the domestic SME sector in India was proliferating and was vital for job creation.
