Task force set up
The Centre has also written to chief secretaries of all states and union territories to adopt best practices in some better-run states. Many state governments have responded by setting up a task force to reduce procedural hassles.
The World Bank essentially considers 10 criteria to assess the ease of doing business. Some of these include ease of starting business, getting a licence, receiving credit, protecting investors, paying taxes, cross-border trade, enforcing contracts and closing business. Judged on these factors, countries like Singapore, Japan, Australia, the US, Britain, Canada and some other European economies are ranked at the top. Most emerging economies, like India, are not among the top 30-40 countries in the World Bank series.
Source: Economic Times
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