The country’s ranking has improved 79 notches in the last six years as the World Bank recognised India as one of the top 10 improvers for the third successive time; ranking could rise more next year after factoring in corporate income tax changes
The government believes the methodology may not have truly reflected many reforms, particularly in tax rates and administration, hammering down the overall rankings and creating an impression that India continues to remains a dodgy place to do business in.
Karnataka, which is a home to India‘s IT capital Bengaluru, has fallen to rank 15 from last year's 9th position, while a manufacturing hub like Tamil Nadu has dropped to 18th rank from 12 with a score of 62.8 percent.
The ranking has been made by Department of Industrial Policy and Promotion. These are not final rankings, which will be released in August by the DIPP after thorough analysis and verification of the evidence uploaded by each state.
Chief Minister of Maharashtra has now taken action to move things quickly and has mandated that things should get done in 60 days for building approvals, said Niranjan Hiranandani,Co-Founder & MD Hiranandani Developers.