According to the World Bank's annual report on the Ease of Doing Business (EODB), 'Doing Business 2020: Comparing Business Regulations in 190 Economies', India ranks ______ out of 190 countries.
63rd
The question asks about India's rank in the World Bank's annual Ease of Doing Business (EODB) report for the year 2020, specifically the report titled 'Doing Business 2020: Comparing Business Regulations in 190 Economies'. This report assesses how easy it is for a local entrepreneur to start and run a small to medium-size business when complying with relevant regulations in 190 economies.
Understanding the Ease of Doing Business Report 2020
The World Bank's Ease of Doing Business report provides quantitative measures of regulations affecting businesses. It covers several areas of business regulation, such as:
- Starting a business
- Dealing with construction permits
- Getting electricity
- Registering property
- Getting credit
- Protecting minority investors
- Paying taxes
- Trading across borders
- Enforcing contracts
- Resolving insolvency
The report ranks economies based on their performance across these indicators, providing a snapshot of the regulatory environment for businesses.
India's Performance in Ease of Doing Business 2020
According to the World Bank's 'Doing Business 2020' report, India showed significant improvement compared to previous years. The report analyzed business regulations in 190 economies.
Let's look at India's rank in the 'Doing Business 2020' report:
- India's rank in the 'Doing Business 2020' report was 63rd.
- This was a significant jump from its previous ranks, indicating substantial reforms undertaken by the government to improve the business climate.
- India was also recognized as one of the top improvers for the third consecutive year.
Comparing India's Rank with Options
The question asks for India's specific rank in the 'Doing Business 2020' report among 190 countries. The options provided are 54th, 47th, 78th, and 63rd.
Based on the World Bank's 'Doing Business 2020' report, India's rank was 63rd.
Let's verify this with the options:
| Option | Rank |
|---|---|
| 1 | 54th |
| 2 | 47th |
| 3 | 78th |
| 4 | 63rd |
Comparing India's rank (63rd) with the given options, we find that the 4th option matches the correct rank.
Conclusion on India's Ease of Doing Business 2020 Rank
The World Bank's 'Doing Business 2020: Comparing Business Regulations in 190 Economies' report stated that India ranked 63rd. This ranking reflects the impact of regulatory reforms on ease of doing business in India during the period assessed by the report.
Revision Table: Ease of Doing Business India Rank
| Report Year | India's Rank | Total Economies |
|---|---|---|
| Doing Business 2015 | 142nd | 189 |
| Doing Business 2016 | 130th | 189 |
| Doing Business 2017 | 130th | 190 |
| Doing Business 2018 | 100th | 190 |
| Doing Business 2019 | 77th | 190 |
| Doing Business 2020 | 63rd | 190 |
Additional Information: World Bank Reports and India's Reforms
The Ease of Doing Business report series was discontinued after the 2020 report due to data irregularities. However, the 2020 report remains a key benchmark for understanding the regulatory environment up to that point.
India's significant improvement in the 2020 report was attributed to reforms in several areas, including:
- Starting a business: Reduced time and cost.
- Dealing with construction permits: Streamlined processes.
- Trading across borders: Reduced time and cost for imports and exports.
- Resolving insolvency: Improved framework.
These reforms were part of the government's efforts to create a more favorable business environment to attract investment and boost economic growth.
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