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World Bank Doing Business 2017 Report

News and Press Release - Dated:- 26-10-2016 - The World Bank s annual Doing Business 2017 report released today recognizes India s achievements in implementing reforms in four of its ten indicators - Trading Across Borders, Getting Electricity, Enforcing Contracts and Paying Taxes. This is the first time in its history that India has been recognized for improvement in four indicators. 2. Improvement in Ranking and Distance to Frontier The Doing Business report ranks countries on the basis of Dis .....

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2017 Overall rank 142 134 130 131 130 Distance to Frontier 52.67 - 54.68 53.93 55.27 3. The change in ranking of India across the 10 indicators is as follows: Topics DB 2015 Rank DB 2016 Rank DB 2017 Rank Getting Electricity 137 70 26 Enforcing Contracts 186 178 172 Starting a Business 158 155 155 Registering Property 121 138 138 Resolving Insolvency 137 136 136 Construction Permits 184 183 185 Getting Credit 36 42 44 Protecting Minority Investors 7 8 13 Paying Taxes 156 157 172 Trading Across .....

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Courts in Delhi and Mumbai to deal with commercial cases above ₹ 1 crore. This has allowed India to improve its rank by 14 places in 2 years. III. In the area of Trading Across Borders, the report recognized the implementation of the Single Window Interface for Trade (ICEGATE), which integrates approvals and risk-based frameworks of customs and nine departments to provide traders with a single online interface for import clearances. IV. On Paying Taxes, the report recognized online filing .....

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g outdated laws with a new legal framework. Once implemented, it will improve our rank significantly in resolving insolvency index in next year s ranking. II. The constitutional amendment to enact a Goods and Services Tax, which will promote a common market across the country. On implementation, our rank on Starting a Business and Paying Taxes will improve significantly next year. III. Introduction of online single window systems for building plan approval in Delhi and Mumbai, integrating permis .....

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dology more than 50 per cent of users should have used the system in the period 2nd June, 2015 to 1st June, 2016. V. The elimination of the requirement of a company seal while applying for government registrations and permissions at the time of setting up of a business. The Companies Act, 2013 was amended in 2015 to make provision for the same but has not been accounted for by the World Bank. The Bank has observed that, to open a bank account a company seal was required, which was not found to b .....

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June, 2015. The World Bank has stated that this would be reflected in the rankings next year. VIII. Streamlining of name reservation process at Ministry of Corporate Affairs, reducing the time taken to an average of 1.86 days. IX. Registration under VAT and Profession Tax has been merged into a single process from 1st January, 2015 by Government of Maharashtra. X. Registration for VAT in Delhi has been made online and is allotted real time and business can start operations immediately on receipt .....

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ng Business report. 6. Reforms for Next Year s Ranking Over the past two years, the Government of India has implemented a host of reforms to make it easier for businesses to start, operate and exit. It is therefore disappointing that these achievements are not covered by the report due to methodological issues. The Government has engaged with the World Bank multiple times in the process, and is hopeful that they will take into account all the implemented reforms in future reports. Importantly, t .....

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