Sitharaman: 2 New Cities To Be Included In World Bank Report From 2020

Economy

Nirmala Sitharaman in a press briefing on Thursday informed that cities of Kolkata and Bengaluru will also be included in the ease of ‘Doing Business’ report.

Written By Rishabh Mishra | Mumbai | Updated On:

After India jumped 14 spaces and ranked 63rd in the ease of ‘Doing Business’ report by the World Bank, Nirmala Sitharaman addressed a press briefing on Thursday, October 24, and informed that cities of Kolkata and Bengaluru will also be included in the report’s survey. Apart from this she also congratulated the Secretary Industry Rajiv Kumar for his contribution in making India rank higher in the report. The ease of ‘Doing Business’ report released by the World Bank shows that India has massively improved in the rankings from the year 2014 when it was on the 142nd position. 

Nirmala Sitharaman on inclusion of more cities 

Emphasising on the importance of inclusion of more cities in the survey assessment of Indian rankings from the coming year, Finance Minister Nirmala Sitharaman said “Till now, only two cities have been covered in India in all these years. For a large country with regional diversity being very distinct, we have been pressing the World Bank that having just two cities, Delhi and Mumbai may not be adequately representative and I am very glad that from this coming year Kolkata and Bengaluru will be added to the list of cities surveyed. So, the respondents from all these four cities will be participating in giving their inputs towards determining what is India's position” 

Read: 'India-US trade negotiations going in full speed': Finance Minister Nirmala Sitharaman

Finance Minister on World Bank’s methodology 

Nirmala Sitharaman also spoke about the efforts of her colleague in achieving the feat and addressed the World Bank’s methodology of collecting data for the rankings. She said, “The Secretary Industries has taken a lot of effort in the last year to make sure that the ranking position improves from where it was last year to where it is today. As a result of his efforts, the improvement has been felt very distinctly in some categories. The World Bank’s methodology also includes a telephonic interview with the respondents who face such situations and therefore the ground realities are felt and indicated in their survey.” 

Read: Finance Minister Nirmala Sitharaman meets Swiss President Ueli Maurer in Washington

“I will also like to highlight the improvement that was made in one particular indicator that is resolving insolvency. I am very happy with this but of course that does not make me complacent, but I am happy that on that particular indicator the improvement in the ranking is more than 50% points,” she added.  

Read: Finance Minister Nirmala Sitharaman: Trade war will impact the flow of capital

Ease of 'Doing Business' rankings  

India which was on the 142nd rank in the ease of ‘Doing Business’ report of 2014 jumped to the 77th position in 2018. The current report, however, shows that India has further jumped 14 spaces to become the 63rd country in ease of 'Doing Business'. India amongst the given parameters in the ease of ‘Doing Business’ has ranked highest in projecting the interest of minority investors. Apart from this India has also does well in getting electricity and dealing with construction permits as per this year’s ranking. India also grew by 21.2% points in resolving insolvency as per the report. 

Read: Nirmala Sitharaman: "We have not given any loans to cronies"

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