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Topic: ease of doing business
BJP spokesperson Sambit Patra said that India's jump in World Bank's ranking on ease of doing business has become possible because of Modi government's hard work.
It will ensure damages to an affected party in case of breach of contract, to facilitate ease of doing business.
Even as they speak about ease-of-doing-business and reforms, both Naidu and Modi are now pursuing populist measures.
The World Bank's response to the criticism of its 'Ease of Doing Business' rankings comes with no substantive rebuttal.
While Modi has celebrated India’s rapid rise in the Doing Business rankings, the World Bank’s Chief Economist recently resigned amid controversy over methodological changes. Without those changes, India’s “jump” in the rankings looks much more modest.
Sending the right feelers to industry would mean laying down a roadmap for bringing in land and labour reforms, infrastructure development, etc.
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Voters, politicians and investors should be clear about what the World Bank's Ease of Doing Business rankings say and don't say.
No matter your view of the usefulness of the rankings, you cannot deny that it’s positive news for India.
The ranking vindicates the reformist measures undertaken by the Modi government. But further improvement requires vanguard action from states and local governments.