New Delhi, Feb 10 (IANS) India has improved by 79 ranks in the ease of doing business (EoDB) during the last five years in the rankings published by the World Bank Group, Parliament was informed on Tuesday.
Following the discontinuation of the Doing Business Report (DBR) in 2020, the World Bank launched the B-Ready Assessment in 2024 to evaluate 180+ countries over three years across 10 topics spanning the entire business lifecycle: Business Entry, Business Location, Utility Services, Labour, Financial Services, International Trade, Taxation, Dispute Resolution, Market Competition, and Business Insolvency.
India is to be part of the Third B-Ready Report, scheduled to be released in 2026, the Minister of State for the Ministry for Commerce & Industry, Jitin Prasada, said in a written reply in the Lok Sabha.
With a view to improving India’s business climate, attracting investments, and fostering economic growth, the Department for Promotion of Industry and Internal Trade (DPIIT) has launched several initiatives, including the Business Reforms Action Plan (BRAP) under the overall umbrella initiative of Ease of Doing Business, the minister stated.
The BRAP initiative was launched in 2014 by the Department for Promotion of Industry and Internal Trade (DPIIT). It focuses on streamlining regulations, reducing compliance burdens, and implementing digital solutions to improve the business environment in India.
Key reforms include establishing single window systems, simplifying building permissions, enhancing inspection procedures, and digitising various business processes. These reforms aim to make India a more attractive destination for both domestic and foreign investment, he further stated.
So far, seven editions of BRAP (2015, 2016, 2017-18, 2019, 2020, 2022 and 2024) have been completed, wherein States/UTs have been assessed. The seventh edition, BRAP 2024, is currently in progress. Over 9,700 reforms have been carried out across States and Union Territories. State/UT Ranking on Ease of Doing Business, the minister explained.
Under the Regulatory Compliance Burden (RCB) initiative, launched by the Government of India in 2020, Central Ministries/Departments and States/UTs undertook a self-identification exercise to reduce burdensome compliance for businesses and citizens. As a result, over 47,000 compliance issues have been reduced during the last five years, he added.
–IANS
sps/dan
