New Delhi: As judgment day nears, the government has unleashed a drive to reach out to over 5,000 stakeholders – from construction and electricity contractors to top notch lawyers, chartered accountants and consulting firms – as it seeks to make them aware of the steps it has taken on ease of doing business.
After all, this is the segment that the World Bank is tapping to get feedback as it prepares the next Ease of Doing Business rankings, where India is currently languishing at the 130th position among 189 countries.
With the World Bank team due to meet government officials next month, principal secretary to PM Nripendra Misra and cabinet secretary P K Sinha too have stepped in as India chases a top 50 rank by next year. Sources said Misra met secretaries earlier this month to take stock of the developments and urge top government officials to move forward with fresh steps.
But the immediate focus is on May 31, as that is the cut-off for the team from the multilateral agency to take stock through the feedback mechanism. While the enactment of the Bankruptcy Code – to speed up revival and closure of companies – is seen as a positive, its impact on rankings is unlikely to be felt until rules are in place and law is implemented. “We are still some way off as the law has to be in place. That will be a big boost but we are not too sure what it means to rankings,” said an official. Although entry into the top 100 would be a dream finish, officials conceded that it could be difficult even as NITI Aayog CEO Amitabh Kant spoke of India being among the 30 easiest places to do business.
While several steps have been taken, feedback from users in Mumbai and Delhi, two cities on which the rankings would be decided, is the key.
For instance, there is now a platform for investors to avail of several benefits through an electronic window. Similarly, timelines have been fixed for various things – from issue of PAN to registration of companies and getting several clearances.