Finance minister Arun Jaitley. Photo: Indranil Bhowmik/Mint
Finance minister Arun Jaitley. Photo: Indranil Bhowmik/Mint

Jaitley says India can improve further in ease of doing business ranking

Areas, including time taken for registering a property, starting a business, insolvency and taxation, and enforcement of contract areas, require improvement: Finance minister Arun Jaitley

New Delhi: Buoyed by a 23-place jump on World Bank’s ease of doing business ranking, finance minister Arun Jaitley on Wednesday said India could crack into the top 50 if it improved on time taken for registering real estate, starting business and enforcement of contracts.

Addressing a news conference soon after the World Bank released its 2019 ranking, Jaitley said areas that required improvement included time taken for registering a property, starting a business, insolvency and taxation, and enforcement of contract areas.

Also read: World Bank doing business report 2019: India, China among top 10 improvers

The BJP-led government, since coming to the power, reduced red-tape and corruption, and its reforms ensured India jumped ranks from 142 to 77, he added.

Improvements had already been done on enforcement of contracts, taxation and insolvency laws and would be reflected in future rankings, the finance minister added.

Jaitley said Prime Minister Narendra Modi had set a target of breaking into the top 50 soon after coming to power in 2014, and it seemed probable if parametres, including time taken to start a business, registering a property, enforcement of contracts, paying taxes and insolvency laws, improved.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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