India jumped 23 positions in the World Bank’s Ease of Doing Business Index 2019 and is now ranked 77 out of 190 countries in 2018, a development that could help the country attract more foreign investments. It was ranked 100 in 2017.
According to the Doing Business Report (DBR, 2019), New Zealand topped the list, followed by Singapore, Denmark, and Hong Kong. The United States is placed eight and China has been ranked 46th. India has become the top-ranked country in South Asia for the first time and third among the BRICS.
The doing business report ranks countries on the basis of distance to frontier (DTF), a score that shows the gap of an economy to the global best practice. India’s DTF score improved to 67.23 from 60.76 last year. India has improved its rank in 6 out of 10 indicators. These parameters include ease of starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts and resolving insolvency.
Source- The Quint
Static/Current Takeaways Important For IBPS PO Mains Exam 2018:
- The President of the World Bank is Jim Yong Kim.
- The World Bank Headquarters in Washington, D.C., United States.