Question

Ease of Doing Business for Higher Productivity & Sustainable Growth Essay in 300 words

Answer 1

Ease of doing business (EDB) index is an index published by the World Bank which ranks the economies from 1 to 189, one being the best. Higher the ranking, easier it is to do business with the country. This index measures various parameters of the countries and then indicates which country has a regulatory environment conducive to business operation. After understanding what exactly is EDB, let us focus on our country. India was ranked 130th in Doing Business Report, 2015. India is a developing country and is working hard to make a dominating position in the world market. More the inflow of foreign currency more stable is the economy and hence more is growth of the country. Hence it is mandatory to work towards creating a convivial environment for foreign trade and business. It is essential to make norms that enable a faster, easier and a competitive business with the world. By encouraging cross-border trade, reducing the tax paid on import – export goods and by making infrastructure easily available to the foreign investors, government is trying to welcome the foreign investment and currency. There are number of reforms being done on EDB to improve productivity and also sustain their growth like Government has started a regulatory services online portal called eBiz that enables a company to apply online for an Industrial License (IL) and Industrial Entrepreneur Memorandum (IEM).  

But just makes new norms is not the solution. Government also needs to focus on increasing productivity and making sure of a sustainable growth. There needs to be a proper method of assessing the growth, measuring it and planning for more advancement. The policies need to be regularly updated or renewed to adapt to the changes in the international as well as the national market. Realizing the importance of a continuous increasing productivity, the need to boom our economic growth, “Ease of doing business for higher productivity and sustainable growth” has been selected as the theme for National Productivity Week (Feb 12 – Feb 18).  

Answer 2

Answer:

63rd position

Ease of Doing Business 2020: India ascended 17 notches, ranked at 63rd position by The World Bank. Ease of Doing Business 2020 is a report published by The World Bank to 'Compare Business Regulation in 190 Economies'. India has ascended 17 notches, ranking at 63rd position in the said report.