Social Posts

What is Ease of Doing Business Index? ~ Social Posts

What is Ease of Doing Business Index?


Ease Of Doing Business Index



> What Does the ease of doing business index measure?


It is the helping indicator for any country to make the conditions of business in your country favourable. This index is published by the world bank.  It tells about the favourable conditions of the business in any country. There are several parameters and on the basis of those parameters, an aggregate figure is issued by the world bank which defines the ease of doing business in any country. Higher rankings (a low numerical value) indicate better business and stronger protections of property rights. 


> Which country is no 1 in the ease of doing business index?


Singapore


> What are the parameters of ease of doing business?


Let us discuss all the parameters on which ranking of the country is marked and these parameters are as follows.

Starting a business – The First parameter is the time taken to start a new business. It includes time, cost and minimum capital required to start a new business. Subsequent to this, procedures to start a new business is also considered in this parameter.

Dealing with construction permits – The 2nd parameter is the procedures, period and charge to build a warehouse.

Getting electricity – The 3rd parameter is the procedures, period and amount required to get a permanent electricity connection for a newly constructed warehouse.

Getting credit – Strength of legal rights index, depth of credit information index.

Registering property – The 5th parameter is the procedures, period and fees to register commercial real estate.

Trading across borders – The 6th parameter is the procedures to do import & export. It is calculated on the basis of cost, time & the number of documents required to do business across borders. 

Resolving insolvency – This parameter is calculated on the basis of time, cost and recovery rate (%) under the proceedings of bankruptcy. This is the 7th index of ease of doing business. 

Enforcing contracts – Procedures, time and cost to enforce a debt contract is considered the basis to calculate this index.

Protecting investors – This index is calculated on the extent of disclosure, the extent of director liability and ease of shareholder suits.

✅ Paying taxes – This is the last parameter of ease of doing business. This parameter is calculated on the basis of the number of taxes paid, hours per year required preparing tax returns and total tax amount payable as the share of gross profit.


What is the rank of India in the ease of doing business index?


According to the latest world bank annual ratings, the rank of India is 77 and India has taken several reforms in the last few years for the improvement of its rankings. Major reforms in this regard are mentioned below.

Ease Of Doing Business Index India


•  India has implemented an online single window system for reducing the time & cost required to get the permits for construction.

•  The time taken for a new electricity connection has reduced to 55 days from 105 days.

•  India has put in place a new Insolvency and Bankruptcy Code and time-bound reorganization procedure for corporate debtors.

Ease Of Doing Business Index


•  India has implemented Goods & Service tax to make the simple tax structure in India.

•  India has improved in trading across borders as well. This improvement was made possible by reducing the time and cost to export and import through various initiatives, including the implementation of electronic sealing of containers, upgrading of port infrastructure and allowing electronic submission of supporting documents with digital signatures under its National Trade Facilitation Action Plan 2017-2020.

Check Out Here Veto Power Countries


Thanks for reading our post. Keep supporting us and visit our website. Share your feedback in the comment box.

Cheer! 
Share:

No comments:

Post a Comment

Watch Our Latest Video

YouTube

Popular Posts

Recent Posts

Contact Form

Name

Email *

Message *