Can India be in top 50 on ease of biz index? Arun Jaitley says ‘reasonably possible’

Improving India’s ranking in the World Bank’s ease of doing business index is “reasonably possible” if various machineries, including the tax department, make concerted efforts to improve the three laggard parameters, Finance Minister Arun Jaitley said today.

He also said that WTO talks have not made much headway in most areas except trade facilitation, which helps cut costs and make it more efficient.

“Therefore, even without international agreement to that effect, it is even within larger benefits and interest of our domestic economy to ensure that trade facilitation takes place,” he said addressing officials on the International Customs Day.

Citing success achieved by India in Ease of Doing Business ranking, Jaitley said the country has moved ahead from 142 to 100th position in the last three years and the last 30 being in one year.

“The Prime Minister has given us goal that we must try and come within first 50. So, at a time when you were at 142, to come within first 50 is somewhat challenging,” he said.

He added that out of the 10 criteria which the World Bank follows there are actually three that need to be improved — one relating to municipal permission of land and buildings, the other is …read more