India ranks 63rd in World Bank’s Doing Business Report

Current context: India has been ranked at 63rd position in the World Bank’s Doing Business Report (DBR, 2020), released on 24th October 2020.

• India has jumped 14 positions against its rank of 77 in 2019.
• It has also improved its rank by 79 positions in last five years (2014-19).
• The Doing Business assessment provides:

1. objective measures of business regulations
2. enforcement of regulations across 190 economies on ten parameters

• The DBR ranks countries on the basis of Distance to Frontier (DTF) and this year India’s DTF score improved to 71.0 from 67.23 in 2018.
• India has improved its rank in 7 out of 10 indicators that includes Construction Permits, Registering Property, Getting Electricity, Starting a Business, Paying Taxes, Trading Across Borders and Resolving Insolvency.
• The highlights of India’s performance in DBR 2020 are: 

1. India is among the top 10 improvers for the 3rd consecutive year.
2. India has a record improvement in Recovery rate under resolving insolvency from 26.5% to 71.6 %.
3. The time taken for resolving insolvency is reduced from 4.3 years to 1.6 years. 
4. From 6th position in 2014, India is now at 1st position among South Asian countries. 

Question: 

Q.1 What is India’s rank in the World Bank’s Doing Business Report 2020?
a. 77th
b. 63rd
c. 66th
d. 73rd