Finance Minister Arun Jaitley. (Photo: PTI)
Encouraged by a 30-notch improvement in India’s Ease of Doing Business rankings by the World Bank, Finance Minister Arun Jaitley on Tuesday said the target of improving the country’s position to the top 50 was achievable.
“I believe this is doable… these remaining three-four areas where work needs to be done, we will push with greater force,” Jaitley said at a press conference, immediately after the World Bank released the report.
India was the only major country mentioned in the World Bank Doing Business report for undertaking structural reforms, Jaitley said.
“This is the highest jump that we have made. It is significant because, for the last three-four years, we are trying to improve upon all the 10 parameters (of ranking) so that it becomes easy to do business in India,” the FM said.
He added the country had come to a 100th position in three years from 142.
“And I think in those areas where we are still lagging behind, there is a sufficient amount of work in progress. There is a reason to believe that we have a capacity to significantly improve our position,” Jaitley said.
Commerce and Industry Minister Suresh Prabhu said legislative, administrative and policy measures taken by the government would help in further improving India’s ranking.
“I think this is just the beginning. The prime minister has initiated a number of measures, which may not have been captured in this particular ranking study. So in the next few years’ time, we will see it improving again and again,” he said.