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Doing Business report, an annual publication (since 2004) of the World Bank Group ranks the countries of the world on the basis of their ‘regulations that enhance business activity and those that constrain it’. Popularly known as the ‘ease of doing business report’, it measures regulations affecting 11 areas of the life of a business55:
1. Starting a business,
2. Dealing with construction permits,
3. Getting electricity,
4. Registering property,
5. Getting credit,
6. Protecting minority investors,
7. Paying taxes,
8. Trading across borders,
9. Enforcing contracts,
10. Resolving insolvency, and
11. Labour market regulation.
Doing Business 2017 report (released in October 2016) recognizes India’s achievements in implementing reforms in four of its ten indicators—Trading Across Borders, Getting Electricity, Enforcing Contracts and Paying Taxes. India’s rank has improved to rank 130th in this report (from 142nd of 2015 report) among the 190 countries included in the report. Basically, the report acknowledges only those reforms which have been implemented in Mumbai and Delhi by June 1 each year. This way, several major reform initiatives of India (after 1st June 2016) were not accounted for in this year’s report and
will enhance India’s rank in the next report. This year’s report did not include the ‘labour market regulaton’.
Reforms for next year’s ranking: The Government is committed to its goal of achieving among top 50 rank in the next report (2018) and the Government has implemented a host of reforms to make it easier for businesses to start, operate and exit. Following actions are on anvil in this regard:
(i) Implementing the Insolvency and Bankruptcy Code.
(ii) Implementing GST nationwide by July 1, 2017.
(iii) Implementing a single form for company incorporation, name availability and director’s identification number and making it mandatory.
(iv) Merging registries to build a unified online data base of security interests over movable assets.
(v) Further streamlining processes related to customs clearances aimed at faster and cheaper processing.
(vi) Introduction of paperless court procedures and systems including e- filing, e-payment, e-summons.
(vii) Make the colour coded maps of Airports Authority of India, Delhi Urban Arts Commission, Delhi Metro Rail Corporation, Archaeological Survey of India GIS enabled and integrate them with the Single Window System of Municipal Corporation of Delhi.
(viii) Allow online filing of application, scheduling of appointment and payment of fees for registering properties.
(ix) Digitize all encumbrances and record of rights of lands for last 30 years and make them available online.
(x) Integrate land records with sale deeds at Sub-Registrar offices.
As per the Economic Survey 2016-17, the Government is working on several fronts to enhance of the ‘ease of doing business’ in the country by— improving investment environment; resolving the ‘twin balance-sheet’ problem; initiating labour law reforms; digitising procedures of businesses
and commercial courts; improving governance and checking the menace of black money; being the major ones.