The World Bank is a group that helps developing countries to grow. It lends them money and helps to fund some of their programs, including reducing poverty, increasing education and access to healthcare, and improving their roads and other connections. It has 189 member countries.
The World Bank puts out a report every year where it studies how easy it is to do business in different parts of the world. It includes parameters such as the ease of starting a new business, the ability to get various permissions from the government, the ability to get an electric connection, to pay taxes, and a few more.
This year, India has jumped 30 places ahead to rank 100 out of 189 countries studied. Apparently India is still behind China, but a 30 place jump is almost unheard of! So how did we get here?
Prime Minister Narendra Modi and his advisors made it a priority to make it easier to start and conduct businesses in India. They studied all the parameters and decided which points could be addressed easily enough. They then went about enforcing and carrying out these changes. A number of improvements were handled through the use of technology, by moving paper based systems online. They will make more improvements, but in the meantime, well done India!
