{"id":86446,"date":"2020-02-01T16:45:19","date_gmt":"2020-02-01T11:15:19","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=13408"},"modified":"2020-02-01T16:45:19","modified_gmt":"2020-02-01T11:15:19","slug":"economic-survey-2019-20ease-of-doing-business","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/economic-survey-2019-20ease-of-doing-business\/","title":{"rendered":"Economic Survey 2019-20:Ease of Doing Business"},"content":{"rendered":"\n<p><strong>News:<\/strong>The Economic Survey has dedicated a chapter on the Ease of Doing Business in India.<br><\/p>\n\n\n\n<p><strong>Facts:<\/strong><br><\/p>\n\n\n\n<p><strong>Key takeaways:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>In World Bank\u2019s Ease of Business rankings,India has recorded a jump of 14 positions at 63rd rank in 2019 against its rank of 77 in 2018.<\/li><li>India\u2019s improved ranking was on the back of reforms such as (a)dealing with construction permits (b)trading across borders and (c)resolving insolvency.<\/li><li>The turnaround time of ships in India has also almost halved to 2.48 days in 2018-19 from 4.67 days in 2010-11.<\/li><li>However,India still trails in parameters such as Ease of Starting a Business, Registering Property, Paying Taxes and Enforcing Contracts.<\/li><\/ul>\n\n\n\n<p><strong>Problems in Ease of doing business:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>According to the survey,Delhi requires 26 licences and approvals to open a restaurant while Bengaluru requires 36 and Mumbai needs 22.<\/li><li>On the other hand,China and Singapore require only four licences to open a restaurant.<\/li><li>Setting up and operating services or manufacturing business in India face a maze of laws as it has to conform with 6,796 compliance items, which is a tedious and time-consuming task.<\/li><\/ul>\n\n\n\n<p><strong>Suggestions:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Focus on reducing time and cost of starting a business in India, especially in the services sector which faces many regulatory hurdles even for routine business.<\/li><li>Increasing digitalisation and seamlessly integrating multiple agencies onto a single digital platform can further reduce procedural inefficiencies in cross-border trade significantly.<\/li><li>Streamlining of logistics on Indian seaports needs close inter-ministerial coordination&nbsp;<\/li><li>Map out regulatory and process bottlenecks for tourism and manufacturing and correct them at the central, state or municipal levels.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News:The Economic Survey has dedicated a chapter on the Ease of Doing Business in India. Facts: Key takeaways: In World Bank\u2019s Ease of Business rankings,India has recorded a jump of 14 positions at 63rd rank in 2019 against its rank of 77 in 2018. India\u2019s improved ranking was on the back of reforms such as&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/economic-survey-2019-20ease-of-doing-business\/\">Continue reading <span class=\"screen-reader-text\">Economic Survey 2019-20:Ease of Doing Business<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[630,2031],"class_list":["post-86446","post","type-post","status-publish","format-standard","hentry","category-economy","tag-ease-of-doing-business","tag-economic-survey","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704742359},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=86446"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86446\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=86446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=86446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=86446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}