Points to Remember:
- The World Bank released its latest Doing Business Report(DBR, 2020) on 24th October 2019.
- India has recorded a jump of 14 positions against its rank of 77 in 2019to be placed now at 63rdrank among 190 countries assessed by the World Bank.
- India’s leap of 14 ranks in the Ease of Doing Business ranking is significant considering that there has been continuous improvement since 2015 and for the third consecutive year India is amongst the top 10 improvers.
- As a result of continued efforts by the Government, India has improved its rank by 79 positions in last five years [2014-19].
- New Zealand topped the list of 190 countries in ease of doing business, followed by Singapore, Denmark, and Hong Kong.
- The United States is placed eight and China has been ranked 46th. Neighbouring Pakistan is placed at 136
The important features of India’s performance this year are:
- The World Bank has recognized India as one of the top 10 improvers for the third consecutive year.
- Recovery rate under resolving insolvency has improved significantly from 26.5% to 71.6%.
- The time taken for resolving insolvency has also come down significantly from 4.3 years to 1.6 years.
- India continues to maintain its first position among South Asian countries. It was 6th in 2014.
Important Possible questions based on above News:
- What is India’s rank, as per latest World Bank’s Doing Business Report(DBR, 2020)? 63rd
- Which country has topped the list of World Bank’s Doing Business Report(DBR, 2020)? New Zealand