India has moved up 23 positions in the annual Ease of Doing Business (EDB) ranking of the World Bank to become 77th in a list of 190 countries. Remarkable, as it indicates the improvement in a host of parameters like starting a business, getting electricity, protecting minority interests, etc, in comparison with other nations.
The World Bank also assigns a country specific EDB score (on a scale of 0 to 100), where India got 67.23 points, up from 60.60 the previous year.
This score benchmarks economies with respect to regulatory best practice, showing the absolute distance to the best regulatory performance on each Doing Business indicator. On this front, India's improvement on several parameters has been minimal.
Registering property improved 0.46 points with a dismal score of 43.55. Retaining a score of 41.19, enforcing contracts showed no improvement at all. The score on resolving insolvency parameters was 40.84 (up by 0.09 points), though it will see a major positive change on account of the Insolvency Act in future rankings. Top ranker New Zealand had an overall score of 86.59. India has a long way to go.