India Can Crack Top 50 On Ease Of Doing Business, Says Jaitley
Jaitley said getting into the top 50 is “reasonably possible” with concerted efforts.
Improving India's ranking in the World Bank's Ease of Doing Business Index is "reasonably possible" if various machineries, including the tax department, make concerted efforts to improve three lagging parameters, according to Union Finance Minister Arun Jaitley.
"The Prime Minister has given us a goal that we must try and come within the first 50,” Jaitley said addressing officials on International Customs Day. “So, at a time when you were at 142, to come within first 50 is somewhat challenging,” he added.
Jaitley said that World Trade Organisation talks have not made much headway in most areas except trade facilitation, which helps cut costs and make it more efficient “Therefore, even without international agreement to that effect, it is even within larger benefits and interest of our domestic economy to ensure that trade facilitation takes place,” he added.
Citing success achieved by India in the Ease of Doing Business ranking, Jaitley said the country has moved ahead from 142 to 100th position in the last three years and the previous jump of 30 places happened in just one year. He added that out of the 10 criteria which the World Bank looks at, there are three that need to be improved -- one relating to municipal permission of land and buildings, the other is trading across borders and third one is contract enforcement.
“Each one of these (three parameters) has a number of minute details which we need to satisfy and most of them are not very difficult to satisfy,” Jaitley said.
Finance Secretary Hasmukh Adhia, who also addressed the gathering, said that officials of the customs department too will have to work together to ensure that the rankings improve “if not within a year, then within two years”. Adhia asked the official to take this as a challenge and focus on this during the year. “If we are used to getting so many laurels in terms of GST and other things, why can't we make this also possible. I am sure if you all decide, we can do it," he said.
Jaitley also said that the Department of Industrial Policy and Promotion is working on the improvement in the three laggard parameters. "With these, to come down substantially below 100 is reasonably possible. And in one (trade facilitation) of them customs department has a role," he said.
The finance minister unveiled two technology platforms -- ICETRAK and ICETAB designed by Central Board of Excise and Customs as part of effort towards improving ease of doing business.