Finance Minister Arun Jaitley addressed a press conference on India's double-digit leap of 30 places inn the 2018 edition of World Bank's Ease of Doing Business Report.
The Narendra Modi government was hopeful of a significant jump on the back of reforms it has undertaken recently.
Here are the highlights:
* We still lag in building construction permits. We are going to request states to expedite municipal permits.
* We ranked 136 in resolving insolvency. We have now jumped 33 positions to 103 rank.
* We have capacity to further significantly improve our position. We must aim to get into first 50.
* India is the only country among BRICS nations to figure as a top reformer.
* 122 reforms are yet to be recognised but we continue to work with World Bank and stakeholders.
* Irrespective of FDI, India should be where one decides to set up business. If one has ease, it adds to investment environment.
* Registering property has got nothing to do with #demonetisation. It is the process of registration.
* Any economic growth positively impacts the job sector. This report will also boost the job sector.
* Start-ups are never 100% successful in anywhere in the world: Arun Jaitley on why India has seen several failed start-ups over past 3 years.
* PM Narendra Modi is committed to bring in a transformative change in India’s economic landscape: Suresh Prabhu says in a video message.
* Important work in progress in the area of ‘starting a business’. It may take a few months for the policies to be effective at the ground level. As far as govt permissions go, you can set up a company in a day.
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* The report acknowledges India as a top improver with the highest jump in rank of any country in DB Report, 2018. India is the only country in South Asia and BRICS economies to feature among most improved economies of the DB Report this year: PMO
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* India's 'ease of doing business' ranking does not take into account implementation of GST, which will be factored in next year: World Bank
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* The Government has undertaken an extensive exercise of stakeholder consultations, identification of user needs, government process re-engineering to match Government rules and procedures with user expectations and streamline them to create a more conducive business environment: PMO
* India has leapt 30 ranks over its rank of 130 in Doing Business Report 2017! The Report is an assessment of 190 economies, covers 10 indicators which span the lifecycle of a business. India has improved its rank in 6 out of 10 indicators & moved closer to global best practices: PMO
* India's 'ease of doing business' ranking does not take into account implementation of GST, which will be factored in next year: World Bank
* I believe it is possible to take India to the first 50 ranks, as envisioned by PM Modi: Jaitley
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* Jumped 53 places to 119 in ease of paying taxes as per World Bank report: FM
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* World Bank report says India is one country which has been undertaking structural reforms: FM Arun Jaitley
* We were ranked 142 in 2014 and 130 last year in ease of doing business World Bank list. This year we have taken a 30 point jump to 100: jaitley
* India jumps to 100th rank from the previous 130th in the World Bank's Ease fo Doing Business report.
