4. While India has taken a number of steps in order to substantially improve its ranking in the World Bank's 'Ease of Doing Business' Index, it needs to take further action in this regard. Elaborate. Also analyse the utility of these rankings vis-a-vis India's objective of facilitating a sound entrepreneurial environment.

Approach:

♤ The answer can be developed under three sub-parts, in the following order:

o Steps taken by India to improve its ranking

o Areas/scope for further improvement

o Role of ranking in facilitating entrepreneurship

♤ Discuss all parts in detail along with relevant data.