In this LiveMint article, Resident Senior Fellow, Vivek Dehejia, quotes the NITI Aayog-IDFC Institute joint Enterprise survey on the ease of doing business and its importance to a country's economy. He says that while the World Bank’s concept of ease of doing business may be based on the opinions of “experts” rather than ground reality, it is unconnected to economic reality. Excerpts below:
"low-income countries fare poorly in the ease of doing business, high- income countries fare well, and a country like India falls somewhere in the middle (behind China, for instance)."
"...our report points to the centrality of information dissemination as a basic prerequisite to improving the ease of doing business. One fascinating statistic is that only 20% of manufacturing start-ups avail of a single window for starting a business, even when one is available. This is the lowest of low-hanging fruit, which does not require legislative or regulatory change to improve, but something as basic as getting the word out."
Read full article here.