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World Bank CEO Kristalina commends India's 30 place jump in Ease of Doing Business report
World Bank CEO Kristalina commends India's 30 place jump in Ease of Doing Business report

World Bank CEO Kristalina commends India's 30 place jump in Ease of Doing Business report

 

New Delhi [India], Nov. 4: World Bank CEO Kristalina Georgieva on Saturday appreciated India's progress in the 'Ease of Doing Business' report, as she highlighted that the jump made has been astonishing.

"India's jump of 30 places in the World Bank's Ease of Doing Business report is very unusual. In reforms, what pays off is persistence. What we are seeing is extraordinary achievement by India. In the days to come, I have no doubt that it will be a high middle income country," Kristalina said while dialogue at the 'India's Business Reforms' assembly in the national capital.

The current report by the World Bank on 'Ease of Doing Business index' showed that India climbed as much as 30 positions to rank 100th amongst 190 countries.

According to the 2018 report of the Ease of Doing Business index, India has been amongst the world's top ten improvers internationally and a top regional reformer.

"With the eight reforms imposed in the system, India made paying taxes easier by requiring that payments are made electronically to the Employees Provident Fund and introducing a set of administrative measures easing acquiescence with corporate income tax," quoted the World Bank in a statement.

The report also mentioned the substantive changes put into action by the Indian Government in 2016-17 that included integration of applications for the Permanent Account Number (PAN) and Tax Account Number (TAN) for commencing a new business.

 

 

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