World Bank to include GST, bankruptcy code in next report
New Delhi [India], Nov 1 (ANI): The World Bank in its latest 'Doing Business' 2017 report has suggested taking on board implementation of the Goods and Services Tax (GST) and enactment of the bankruptcy code.
ANI
Nov 01, 2016 17:26 IST
New Delhi [India], Nov 1 (ANI): The World Bank in its latest 'Doing Business' 2017 report has suggested taking on board implementation of the Goods and Services Tax (GST) and enactment of the bankruptcy code. While preparing the ease of doing business report next year, the bank is supposed to assess both the GST and bankruptcy code, said Country Director Junaid Ahmad. He also suggested that India has managed to improve on various sub-rankings although the World Bank's latest report did not show any improvement in the country's ranking as other nations too have done their bit. India's place remained unchanged from last year's original ranking of 130 among the 190 economies that were assessed on various parameters. But last year's ranking has been revised to 131 from which the country has improved its place by one spot. "Our methodology had led to very interesting response by different countries. We have learnt that the complexity of understanding of doing business needs to change. So, our methodology will evolve as we are doing it right now," added Ahmad. He further said the GST is going to change the way the Indian markets are working now. "Insolvency is going to ripple through the country in different ways. That too has not been picked up. I think you will be wrong to start looking at the methodology and be worried about it. If you unbundle the rankings below it, you will see that India continues on its trajectory," he added. (ANI)
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