EASE OF DOING BUSINESS (EODB): AN ANALYTICAL INVESTIGATION
Journal of Global Economics, Management and Business Research,
Page 45-55
Abstract
India aims to be five trillion-dollar economy by 2024-25. A favourable ecosystem is essential for the growth and development of a nation. The government has taken up a series of reforms with a view to improve doing business climate in India. The basic plan of the paper is to review the current scenario of ease of doing business in India and comparative study of BRICS nations on ease of doing business parameters using secondary data. The study reported that there has been a significant improvement in the World Bank’s ease of doing business ranking of India from 133rd position in 2009 to 63rd position in 2019. In comparison with New Zealand, which is the top performing economy in ease of doing business ranking, India lags behind on four parameters viz. starting a business, registering property, paying taxes, enforcing contracts. Among the BRICS nations, the most preferred destination for doing business in year 2020 is Russian Federation with overall doing business ranking of 28 whereas the least preferred nation is Brazil with rank of 124. The government needs to undertake reforms focussing on more flexible labour laws, enhancing the access to low-cost capital, uninterrupted power supply, easy entry and exit to businesses so that the ranking of country can be further improved.
Keywords:
- Ease of doing business
- ecosystem
- parameters
- BRICS nations
- reforms
How to Cite
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