Ease of doing Business: State Ranks

[Rowdy]

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[salute]

where are the ranks you talking about ???

 

[blue marlin]

what will india do to increase its ease of business?

 

[ezsasa]

what will india do to increase its ease of business?

Ministry of commerce has been going thru World bank's audit list for ease of doing business. They are clearing them one by one. Single window clearance for fresh business license is one of them. Reducing the time to set up a new company is another point.

 

[Rowdy]

where are the ranks you talking about ???

Next week, will be released by World Bank.

 

[blue marlin]

Ministry of commerce has been going thru World bank's audit list for ease of doing business. They are clearing them one by one. Single window clearance for fresh business license is one of them. Reducing the time to set up a new company is another point.

that all good and all but what will he actually do. have you got this world bank audit list?

 

[ezsasa]

that all good and all but what will he actually do. have you got this world bank audit list?

Nope I don't have the list. Who is he in your statement? Modi has little to do in this issue, Nirmala Sitaraman is running the show on this case.

Either way central government can only provide guidance, state governments is where these improvements have to happen. Going by approvals given by Department of industrial promotion over the past year, central govt is doing better than expected.

Some State governments on the other hand have recognised the importance of ease of doing business, there is definitely improvement among some of them.

 

[warrior monk]

that all good and all but what will he actually do. have you got this world bank audit list?

Steps being taken by GoI
1 Labour reforms
2 Land reforms
3 Taxation reforms ( both direct and indirect like GST and DTC)
E Biz portal opened.
4 Infrastructure reforms ( This is where we lack , so GoI has planned to invest 1.5 trillion US$ over the next 7 to 8 years )
5 Bankruptcy code for business.
6 MUDRA bank
7 Payment Banks.
8 Banking sector reforms
More is being done but this is all i can recollect .

 

[blue marlin]

Steps being taken by GoI
1 Labour reforms
2 Land reforms
3 Taxation reforms ( both direct and indirect like GST and DTC)
E Biz portal opened.
4 Infrastructure reforms ( This is where we lack , so GoI has planned to invest 1.5 trillion US$ over the next 7 to 8 years )
5 Bankruptcy code for business.
6 MUDRA bank
7 Payment Banks.
8 Banking sector reforms
More is being done but this is all i can recollect .

whats a MUDRA bank? and what do you do with it? how will it increase ease of business

 

[warrior monk]

It is GoI controlled financial institution for providing credit to MSME ( Micro small medium scale enterprises ) .
India has more than 5 million factories which are small and medium scale.

 

[Bangalorean]

I completely appreciate that ease of starting business is a very important factor and every state should work towards it. But really, I don't agree with some of the criteria that they use to come up with these ratings.

Take, for example, "time taken to register a business". Is it really such an important factor? I agree its a pain. But it is a one-time pain. And the job is most often outsourced to some company secretary or CA.

I registered my Private Limited company in November 2014. And I just outsourced the task, as most people do. I don't understand why people make such a hue and cry about business registration, a one-time activity?

I take all these ratings shit with a pinch of salt.

 

[warrior monk]

I completely appreciate that ease of starting business is a very important factor and every state should work towards it. But really, I don't agree with some of the criteria that they use to come up with these ratings.

Take, for example, "time taken to register a business". Is it really such an important factor? I agree its a pain. But it is a one-time pain. And the job is most often outsourced to some company secretary or CA.

I registered my Private Limited company in November 2014. And I just outsourced the task, as most people do. I don't understand why people make such a hue and cry about business registration, a one-time activity?

I take all these ratings shit with a pinch of salt.

Exactly some of the parameters these people use is complete balderdash. Even China is in 80's or 90's I think in ease of doing business.

 

[blueblood]

@Bangalorean , depends on the scale of your business and how deep your pockets are. If you starting from scratch, opening a small business can be a bitch.

 

[Rowdy]

Gujarat ranks first in ease of doing business: World Bank report

Gujarat emerged as number 1 state in ease of doing business with 71.14% according to World Bank reports.

Andhra Pradesh followed Gujarat with 70.12%. Jharkhand, Chhattisgarh and Madhya Pradesh emerged as top 5 states along with Andhra Pradesh and Gujarat in ease of doing business which is basically an asessment of business reforms sponsored by the Department of Industry Policy and Promotion (DIPP).

Among the major states, West Bengal occupied 11th slot, Tamil Nadu (12th), Haryana (14th), Delhi (15th), Punjab (16th), Himachal Pradesh (17th), Kerala (18th), Goa (19th), Bihar (21st) and Assam (22nd).

Arunachal Pradesh is ranked the last with 1.23%.

The ranking of the states, prepared by the World Bank at the behest of the government, was based on eight specified parameters which include setting up of business, allotment of land, labour reforms and procedure for environmental clearance.

The parameters also include infrastructure, procedure for registration for tax purposes and inspections for compliance of various norms.

Pitching for further ease of doing business, World Bank country director Onno Ruhl, in his foreword to the report, said, "A disproportionately high regulatory burden is borne by businesses in India today."

Various initiatives taken by India in recent times, Ruhl said, would help the government in focusing on "implementation of reforms relating to start a business, resolving insolvency, enforcing contracts, and trading across borders."

India has been ranked 142 among the 189 countries in the World Bank's report, falling two places from the previous year's ranking. Hence, the government is taking several steps to bring India into the top 50 ranks

Earlier this month, Commerce Ministry Nirmala Sitharaman said that India is likely to be ranked 'better' this year in the World bank's 'Ease of Doing Business' report.

"Our major initiative is ranking of states. We would like all states to compete among themselves and (see) which will be the best investment friendly, (having) eco system for industries...we should come out with ranking of states where states are ranked in terms of ease of doing business," DIPP Joint Secretary Ravneet Kaur had said at a workshop on 'Make In India' initiative.

Here is the list of all the states with their rank and scores according to World Bank reports:

http://www.dnaindia.com/money/repor...e-of-doing-business-world-bank-report-2125147

 

[VIP]

I'm surprised to see Maharashtraa @ number 8.

 

[brational]

One State is missing.. Surprise Gift.. if you can find it out..

 

[Rowdy]

One State is missing.. Surprise Gift.. if you can find it out..

Lakshdweep

30 characters of Expectations.

 

[brational]

Lakshdweep

30 characters of Expectations.

U failed. Lakshadwip is not a state[emoji107]
Hint:- Look East

 

[warrior monk]

One State is missing.. Surprise Gift.. if you can find it out..

Manipur is missing ..............................................

 

[Ankit Purohit]

Daman DIU.................................................