India managed to just move up one rank on the "India has embarked on an ambitious reform path, to list the developments. The country has embarked on a fast-paced reform path, and the Doing Business 2017 report acknowledges a number of substantial improvements,, the report said, mentioning electricity connections to businesses, paying taxes, electronic system for paying employee state insurance contributions, electronic filing of integrated customs declarations, the Companies (Amendment) Act, passage of the commercial courts and the Insolvency and Bankruptcy Code.
According to the report, India has made improvement in areas like electricity connections but couldn’t develop in other areas that included payment of taxes and enforcing contracts, prevented improvement on the rankings that is followed widely by global investors. Other factor that affected the ranking was many nations worked on improving the business environment. According to the World Bank report, a record 137 economies around the world have adopted key reforms that make it easier to start and operate small and medium-sized businesses.
The government officials however are not losing their hopes and believe that the efforts will be recognized in the coming years. “We are engaging continuously and closely with the World Bank...Many of our reforms have not been recognised by them. However in many areas we are getting closer to best practices,” said
On the issue of getting electricity, India moved up to 26th rank from 70th last year. The country however fell several ranks in parameters such as payment of taxes, trading across borders, and enforcing contracts.
The officials however said that the report overlooked and didn’t covered many achievements by the governments.
"It is disappointing that many achievements have not been covered by the report due to methodological issues. We are hopeful that they will take into account all implemented reforms in future reports,” Abhishek said.