The World Bank on October 31, 2018 released the Doing Business Report 2019 titled as ‘Doing Business 2019: Training for Reform’, assessing and ranking countries on the basis of ease of doing business in the year 2018. As per the 2019 Report, India jumped 23 places on the Ease of Doing Business Index to 77th rank, up from 100th rank last year. This year, India’s Distance to Frontier score improved to 67.23 from 60.76 in the previous year.
The Doing Business assesses 190 economies and covers 10 indicators which span the lifecycle of a business. It ranks countries on the basis of Distance to Frontier (DTF), a score that shows the gap of an economy to the global best practice.
1. Doing Business took note of record 314 regulatory reforms introduced by 128 countries between June 2, 2017, and May 1, 2018, for making it easier to do business in all areas measured by Doing Business.
2. The top 10 economies in the ease of doing business rankings are New Zealand, Singapore, Denmark, Hong Kong SAR, Korea, Georgia, Norway, United States, United Kingdom and FYR Macedonia.
3. The economies with the most notable improvement in Doing Business 2019 are Afghanistan, Djibouti, China, Azerbaijan, India, Togo, Kenya, Cote d’Ivoire, Turkey and Rwanda.
4. Around one-third of all business regulatory reforms recorded by Doing Business 2019 were in the economies of Sub-Saharan Africa. Sub-Saharan Africa implemented a total of 107 reforms.
5. Brazil, Russia, India and China, the BRICS economies, introduced a total of 21 reforms, with getting electricity and trading across borders the most common areas of improvement.
6. The 10 top economies in the ranking share common features of regulatory efficiency and quality including mandatory inspections during construction, automated tools used by distribution utilities to restore service during power outages and automated specialised commercial courts.