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Home > Economy > Sitharaman promises further GST simplification to help India improve biz ranking
Economy
Sitharaman promises further GST simplification to help India improve biz ranking
By  
PTI   , Published : Oct 24, 2019, 4:05 pm IST | Updated : Oct 24, 2019, 4:05 pm IST

India has jumped 14 places to rank 63rd in the World Bank's ease of doing business ranking index and the country aims to be within 50.

Finance Minister Nirmala Sitharaman, while talking to reporters, said states too will have to make efforts in improving the business climate in India, especially with regard to property registration. (Photo: File)
Finance Minister Nirmala Sitharaman, while talking to reporters, said states too will have to make efforts in improving the business climate in India, especially with regard to property registration. (Photo: File)

New Delhi: Finance Minister Nirmala Sitharaman on Thursday said efforts will be made to further simplify Goods and Services Tax, and expressed hope that it will help in further improving India's ranking in the World Bank's ease of doing business index.

Led by Prime Minister Narendra Modi, India has jumped 14 places to rank 63rd in the World Bank's ease of doing business ranking index and the country aims to be within 50 in the next few years.

Sitharaman, while talking to reporters, said states too will have to make efforts in improving the business climate in India, especially with regard to property registration.

Implementation of Insolvency and Bankruptcy Code (IBC) has helped in improving India's business ranking, she added.

Sitharaman also said that in the next ranking, the World Bank will include the business climate in Kolkata and Bengaluru as well. Currently, it takes into account only Delhi and Mumbai.

Chief Economic Adviser Krishnamurthy Subramanian said the current outreach programme being undertaken by the banks has helped in improving credit access to the MSME sector.

end-of
Tags: 
ease of doing business, narendra modi, world bank, reforms, economy, insolvency and bankruptcy code, krishnamurthy subramanian, nirmala sitharaman
Location: 
India, Delhi, New Delhi
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