India's improvement from 100 to 77 position in World Bank's Ease of Doing Business ranking released on October 31 was made possible due to improvement in granting of construction permits where it has moved to 52nd position this year from 181, said real estate experts.
The World Bank's ranking is determined by awarding 190 countries scores on 10 topics, including obtaining electricity, paying taxes, dealing with construction permits, enforcing contracts, protecting minority interests, availability of credit and other factors.
Reiterating the government's role, Jaitley said, the ease of doing business is to maximise the governance with minimum government personnel.
The new co-chairs of Pemudah are Finance Minister Lim Guan Eng and Leiking.
With Djibouti, which makes it to this list for the second consecutive year, Africa occupies half of the top 10 most improved economies list, it says.
"Moving forward, the structure will be strengthened to better address issues at the policy and execution levels".
Apple’s iOS 12.1 Drops Today, Includes Group FaceTime & New Emoji
Group FaceTime is integrated into Messages, so you can initiate a group call from within that app. The size of the person's image then changes depending on how active they are being on the call.
"Governments have the enormous task of fostering an enabling environment for entrepreneurs and small and medium-sized enterprises", World Bank president Jim Yong Kim said in the foreword to the report.
India was ranked 80 in easing the process of cross-border trade, 163 in enforcing trade and 108 in resolving insolvency.
It also performs well in the area of registering property, with a global rank of 39, and at just five days, it is four times faster to register a property transfer in Turkey than in the region, according to the report.
The Philippines' ease of doing business overall score actually improved to 57.68 this year from 56.32 last year, as there were three reforms introduced, from two reforms the previous year. Also, the cost of an electricity connection in Delhi stands at 46.4 per cent of income per capita as against 1,054.7 in South Asia.
A total of 25 reforms were carried out in Latin America and the Caribbean in the past year. "Enhanced risk-based management now allows exporters to seal their containers electronically at their own facilities; as little as 5% of shipments must undergo physical inspections".
"Doing Business provides a road map that different governments can use to increase business confidence, innovation, and growth and reduce corruption". As a result, the time needed for exporters to comply with documentation requirements was reduced to 14 hours, from 38 hours. The report notes that India has supported its ambitious reform agenda by providing regular training to both customs officials and private sector agents, as well as by establishing Customs Clearance Facilitation Committees which bring together actors involved in global trade at regular meetings.