The World Bank says India still lags in areas such as starting a business, enforcing contracts and dealing with construction permits. "The 3-4 areas where we haven't been treated very high are all areas where significant amount of work is in progress and once its impact is shown to the ground, I'm sure it will be taken into consideration in next year's ranking", he said.
In the last 12 months, Modi's government carried out two huge reforms which political rivals have described as torpedoes: The first, a cash ban that replaced India's highest denomination notes; the second, a national tax system that replaced more than a dozen state and central taxes.
"Predictably, this has sent a chill through the business community and no "ease of doing business" is visible there", he added.
It was a given that India would improve its position in the Doing Business Rankings. "Last year in 189 countries, we were 172.This year we have moved up 53 places", he said. He further said he will request states to expedite municipal permits. Still, even investors with a long-term perspective can only remain long on a country for so long, which is why it is encouraging that the government has started focusing on making it easier to do business in the country. "The country's corporate law and securities regulations have been recognised as highly advanced, placing India in the fourth place in the global ranking in protecting minority investors", the World Bank's report noted.
"The cut-off date for implementing any reforms for the said study was June 1 while the GST was imposed on July 1", he said, adding that numerous slabs and complex filing requirements has turned GST into a "Gabbar Singh Tax". The ranking comes as a shot in the arm for the Narendra Modi government amid dissenting voices in certain quarters about implementation of the Goods and Services Tax (GST) as well as demonetisation.
Developing economies such as Nigeria, India, Thailand and El Salvador have made the largest strides in improving their business climates while New Zealand and Singapore retained their top ranks for ease of doing business, the World Bank said Tuesday.
Trading across Borders: India reduced import border compliance time in Mumbai by improving infrastructure at the Nhava Sheva Port. Export and import border compliance cost were also reduced in both Delhi and Mumbai by eliminating merchant overtime fees and through the increased use of electronic and mobile platforms.
The World Bank said India needs to do more. "As a nation of entrepreneurs India is destined to be among the top economic powers of the world if governments continue to make it easier for businessmen and innovators to invest in India", said Patel.
"CII is confident that on the back of GST and other reforms that are planned, India would see an equally impressive improvement next year".
The Frenchman's presence would make it a lot less easy for Roma to dominate the centre of the park as they did last time out. Stephan El Shaarawy scored one of the best goals you'll see in the Champions League this season on Tuesday night.
Comment below and give us your thoughts on players from the Texans kneeling and sitting during the anthem in protest of McNair. McNair issued two public apologies via statements distributed by the Texans.
The resolution said the party always worked within the Constitution in which the state's special status was enshrined. Union Minister Smriti Irani too slammed the senior Congress leader over his statement on Kashmir.
For the Panthers, they will now rely on younger pass-catchers in Devin Funchess and Curtis Samuel to get the job done. Ahead of Tuesday's 4 P.M. trade deadline, the Bills have acquired wide receiver Kelvin Benjamin from the Panthers .
TE Zach Miller landed awkwardly on his left leg on an apparent 25-yard TD catch and was carted off the field in the third quarter. Team-high 9 tackles, sharing a sack with Cam Jordan, and broke up fourth-down Mitchell Trubisky pass on Bears' penultimate drive.
Russian media has accused the Chinese agency of recruiting Vlada on a " slave labor " contract without medical insurance . Dzyuba's Russian manager Dmitry Smirnov, who negotiated her Chinese assignment, has not commented on her death.
New Zealand were 63 for two chasing 270 in the 15th over - but 16 runs, eight wickets and 51 balls later, the match was complete. They notched up a partnership of 230 for the second wicket and effectively batted New Zealand out of the series.
Thousands celebrated Friday's declaration of independence on the streets of Barcelona , Catalonia's regional capital. It's not clear at all whether a new election would solve Spain's problems with separatists in Catalonia.
Sony debuts brutal new Last Of Us 2 trailer
Just as the woman is about to have her right arm bludgeoned, one of her captor takes an arrow through his cheek and stomach. Paris Games Week 2017 is going on right now, and Sony shared some treats during their PlayStation showcase.
Nintendo Switch sells 7.6 million units worldwide
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SpaceX plans launch for this afternoon, weather looks good
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Trump's transgender military ban just got shut down
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Israeli 'Greater Jerusalem' bill paused after USA pressure
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Ranked Halep crashes out of WTA Finals
Williams holds a 7-0 winning career record over 27-year-old Wozniacki and has only lost one of 15 sets they've played. Finally, she started to make a couple of mistakes and I kept the intensity up, kept trying to find a way.
Trump declares opioid emergency
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