NEWS
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Context:
- India has been admitted to the top 100 nation club for Ease of Doing Business by the World Bank league.
Why is in news?
- For the first time ever, India has jumped 30 positions to become the top 100th country in terms of ease of doing business ranking this year.
- This was announced by the World Bank Group’s latest Doing Business 2018: Reforming to Create Jobs report in Delhi on 31, October 2017.
- The World Bank has attributed the change in India ranking to the sustained business reforms it has undertaken.
What India needs to do to be a part of top 80 nation club?
- India’s policymakers need to find the weaknesses of the countries above it and make a strong case to press for India’s competitive advantage.
- The country strictly needs to go by the parameters of the World Bank for it insists on its own formula regardless of the country’s rich history.
- India has to compete with Bhutan for a higher ranking and for precious foreign investment.
- There are broader injustices that should be addressed in the memo to the World Bank.
