World Bank EODB reports suspended
A number of data irregularities have been reported in Doing Business 2018 and 2020 reports, published 2017 and 2019. WorldBank is suspending its EDB reports and these were reports where India jumped in the rankings that didn't match ground reality. https://www.worldbank.org/en/news/statement/2020/08/27/doing-business---data-irregularities-statement
I never quite believed these reports as by boosting delhi mumbai rank you cant claim rank improvement. There is no manufacturing in delhi and mumbai but its in Noida Ghaziabad Gurugram Manesar and hence the eodb rankings have to cover them to be realistic. more
Misra Ji Manufacturing is only one area for generating employment ,but other areas like even shops generate employment, you will get the ideas after visiting Delhi and Mumbai that both cities create more jobs than manufacturing HUB
I think the situation is now in India better then even few other Developed Countries.
Wait and think positive. more
Some people have an extremely negative mind set. Does the report say that there is inconsistncy in the data pertaining to India? Let us have slightly more faith in our Government than relying on outsiders to denigrate India. more
The insolvency and bankruptcy code creates a separate class of professionals from among the accounting professions exclusively for the purpose of insolvency. Where in the world this is the case? In the most attractive economies of the world, a local lawyer is able to handle everything related to bankruptcy at a nominal fees.
Then creating special tribunals in major cities of India for adjuciation of insolvency matters is another problematic provision.
In all economically attractive nations bankruptcy is handled at the level of the district courts or maximum the high courts with special judges or benches created within these courts for such matters. All this saves cost and time of the parties.
So how does the insolvency law improve the ease of doing business in India? Beats me. more
Reserving the post of company secretary for a member of the Institute of Company Secretaries of India in the Companies Act is something that is unheard of anywhere else in the world. Even in the UK any lawyer or board member having requisite qualification can serve as secretary to the company board. Therefore how does this positively affect the ease of doing business in India? more
Also, claiming that changes in Indian company laws and insolvency laws will overnight improve ease of doing business was too much of a stretch especially when these changes have increased compliance costs of companies. more