Ease of doing business

Subject: Economy

Context:

World Bank halted its annual publication, ‘Doing Business’ report, as it detected irregularities of data for a few countries

Concept:

• The World Bank’s Doing Business study ranks 190 countries on the freedom they provide to conduct business by measuring aspects of business regulation that affect small domestic firms located in their largest business cities
• The rankings are determined by sorting the aggregate scores on 10 topics, each consisting of several indicators, giving equal weight to each topic.
  • Starting a Business,
  • Dealing with Construction permits,
  • Electricity availability,
  • Property registration,
  • Credit availability,
  • Protecting minority Investors,
  • Paying Taxes,
  • Trading across borders,
  • Contracts enforcement, and
  • Resolving Insolvency.
• India climbed 14 notches in the World Bank’s ease of doing business rankings for 2020 to a record 63rd position and figured among the world’s top 10 ‘most improved’ countries for the third consecutive time on the back of faster bankruptcy resolution and issuance of construction permits.