PM GatiShakti is the result of the PM's constant endeavour to build Next Generation Infrastructure which improves Ease of Living as well as Ease of Doing Business.
Four more states -- Assam, Haryana, Himachal Pradesh, and Punjab have undertaken "Ease of Doing Business" reforms stipulated by the finance ministry.
Andhra Pradesh has emerged as the best state in ease of doing business ranking, retaininig its top position in the ranking of states and union territories (UTs) based on the implementation of the business reform action plan, according to a report released by Finance Minister Nirmala Sitharaman on Saturday.
India made trading across borders easier by enabling post clearance audits, integrating trade stakeholders in a single electronic platform, upgrading port infrastructures, and enhancing the electronic submission of documents, the report said.
"As per the analysis of Moody and World Economic Forum the position of India has either gone up or is rising. Now our efforts are to take India to the 5 trillion dollar club. To achieve this, we have to improve in all the sectors of the economy," he further said.
India has jumped 23 spots to 77th rank in World Bank's 'Ease of doing business' index announced on Wednesday. In 2017, India was placed at the 100th spot.
Earlier, foreign portfolio investors (FPIs) had to file a separate form to register themselves with the market regulator Sebi.
The government's motto is reform, perform and transform. Red tape has been replaced with 'red carpet', propelling India on the ease of doing business ranking, PM said.
India jumped 30 places to rank 100th in the World Bank's 'ease of doing business' ranking, helped by a slew of reforms in taxation, licensing, investor protection and bankruptcy resolution.
Kapil Sibal said the two factors taken into consideration for the report were e-filing, which he said was started by the UPA government, and Insolvency Act which was also conceived by the Congress-led UPA.
Prime Minister Narendra Modi is attending the presentation of India's Business Reforms at Pravasi Bharatiya Kendra in Delhi.
India, which was ranked 142nd when Narendra Modi government took office in 2014 and 130th last year, is the only large country this year to have achieved such a significant shift.
Stock investors on Wednesday became richer by over Rs 1 lakh crore helped by a robust broader market show where the BSE 30-share index shot up 387 points to a record high.
The government is working with the World Bank to recognise over 200 reforms that will help propel India into the top-50 bracket in ease of doing business.
Targeting Finance Minister Arun Jaitley, Gandhi said the "entire country will shout to say that there is no ease of doing business in India".
India entering the top 100 club for the first time matters a lot, and Finance Minister Arun Jaitley deserves kudos for this achievement.
Prime Minister Narendra Modi's target to take India amongst the first 50 is doable and can be achieved, said FM Arun Jaitley
Washington: While India's rank for ‘ease of doing business' has worsened to 142nd position globally, it fares much better in terms of protection of minority investors and credit availability at 7th and 36th places, respectively.These
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