India soon to be under 50 in ease of doing business index,says FM Arun Jaitley

As PM Modi pitched the India growth story at the World Economic Forum at Davos, Finance Minister Arun Jaitley on Saturday claimed that India could well within the top 50 countries in matters of ‘ease of doing business.’

Arun Jaitley today unveiled two technology platforms –ICETRAK and ICETAB designed by Central Board of Excise and Customs as part of the effort towards improving ease of doing business.

India’s rise from 130 in 2017 to 100 has put India in the top 10 most improved countries in terms of ease of doing business.

The improvement has come on the backdrop of various reform measures brought in by the Narendra Modi led NDA government.

FM Arun Jaitley also said that the rankings could improve further if the tax and other departments work in a concerted effort.

Addressing the audience on the occasion of International Customs Day, Jaitley said, “ The Prime Minister has given us goal that we must try and come within first 50. So, at a time when you were at 142, to come within first 50 is somewhat challenging,”.

He added that out of the 10 criteria which the World Bank follows there are actually three that need to be improved –one relating to municipal permission of land and buildings, the other is trading across borders and the third one is contract enforcement.

Each one of these has a number of minute details which we need to satisfy and most of them are not very difficult to satisfy,” added the Finance Minister.

(With PTI inputs)