India has conveyed to the World Bank that processes for starting a business in the country have been reduced to five from 14 in the past year, in response to its survey on ease of doing business. After India rose only one rung to no. 130 among 190 countries in the World Bank’s 2017 ease of doing business report, New Delhi complained that several of its reforms had not been acknowledged. India now wants to ensure the World Bank takes note of all reforms in its 2018 rankings.
According to officials, in a reply to a World Bank questionnaire, India said five procedures — including obtaining direction identification number, permanent account and tax deduction account number (PAN and TAN) —have been merged into one. Besides, processes for employee provident fund have been moved online and inspection requirements done away with, further reducing the number of steps. In the 2017 report, India was ranked 155 among 190 countries on ‘Starting a Business’ parameter — one of 10 factors on which the World Bank ranks countries on the ease of doing business.