India ups rank from 52nd to 27th for construction permits: World Bank
01 Nov 2019
2 Min Read
CW Staff
India is among the top 10 economies where business climates improved the most, as per the World Bank鈥檚 Doing Business 2020 report. The country saw its ranking in the World Bank鈥檚 鈥楨ase of Doing Business鈥� index jump to 63 for 2018-19 from 77 in the previous year. And, this is the third time India featured on this list. In fact, among South Asian countries, India continues to be the region鈥檚 top ranked economy.
The 10 areas measured in the report are: Starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. An additional area of employing workers is also measured but is not included in the rankings.
Here鈥檚 a glimpse of where
India stands under the above mentioned parameters:
Parameter
|
2020 Rank
|
2019 Rank
|
Starting a business
|
136
|
137
|
Dealing with construction permits
|
27
|
52
|
Getting electricity
|
22
|
24
|
Registering property
|
154
|
166
|
Getting Credit
|
25
|
22
|
Protecting Minority Investors
|
13
|
7
|
Paying Taxes
|
115
|
121
|
Trading across Borders
|
68
|
80
|
Enforcing Contracts
|
163
|
163
|
Resolving Insolvency
|
52
|
108
|
Overall
|
63
|
77
|
Commenting on the India鈥檚 ranking, Sangeeta Prasad, Managing Director & CEO, Mahindra Lifespace Developers, said, 鈥淚ndia鈥檚 advancement in the World Bank's Ease of Doing Business rankings for the third year in a row reflects the government鈥檚 efforts and commitment towards long-lasting economic reform. We expect the jump in rankings will attract investments in the near future.鈥�
Added Rakesh Reddy, Director, Aparna Constructions & Estates, 鈥淚ndia has enacted many policy interventions over the past few years, especially in real estate, which undoubtedly has a far-reaching impact on India鈥檚 overall economic performance. These transformative reforms have resulted in India improving 14 places to rank 63rd in the World Bank Ease of Doing Business ranking. The Real Estate Regulatory Act (RERA) has revived consumer confidence and laid the foundation for massive growth. RERA has the potential to be the most significant among these reforms. The reduction in GST on under-construction properties and affordable housing has also had positive implications for the sector.鈥�
India is among the top 10 economies where business climates improved the most, as per the World Bank鈥檚 Doing Business 2020 report. The country saw its ranking in the World Bank鈥檚 鈥楨ase of Doing Business鈥� index jump to 63 for 2018-19 from 77 in the previous year. And, this is the third time India featured on this list. In fact, among South Asian countries, India continues to be the region鈥檚 top ranked economy.
The 10 areas measured in the report are: Starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. An additional area of employing workers is also measured but is not included in the rankings.
Here鈥檚 a glimpse of where
India stands under the above mentioned parameters:
Parameter
2020 Rank
2019 Rank
Starting a business
136
137
Dealing with construction permits
27
52
Getting electricity
22
24
Registering property
154
166
Getting Credit
25
22
Protecting Minority Investors
13
7
Paying Taxes
115
121
Trading across Borders
68
80
Enforcing Contracts
163
163
Resolving Insolvency
52
108
Overall
63
77
Commenting on the India鈥檚 ranking, Sangeeta Prasad, Managing Director & CEO, Mahindra Lifespace Developers, said, 鈥淚ndia鈥檚 advancement in the World Bank's Ease of Doing Business rankings for the third year in a row reflects the government鈥檚 efforts and commitment towards long-lasting economic reform. We expect the jump in rankings will attract investments in the near future.鈥�
Added Rakesh Reddy, Director, Aparna Constructions & Estates, 鈥淚ndia has enacted many policy interventions over the past few years, especially in real estate, which undoubtedly has a far-reaching impact on India鈥檚 overall economic performance. These transformative reforms have resulted in India improving 14 places to rank 63rd in the World Bank Ease of Doing Business ranking. The Real Estate Regulatory Act (RERA) has revived consumer confidence and laid the foundation for massive growth. RERA has the potential to be the most significant among these reforms. The reduction in GST on under-construction properties and affordable housing has also had positive implications for the sector.鈥�
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