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PM Narendra Modi Lashes out at Opposition Leaders, Says Those Who Worked at World Bank Now Doubt India’s Ranking

PM Narendra Modi said India’s 30-place jump on World Bank’s Ease of Doing Business index is the recognition of “stupendous work done by us”.

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Updated:November 4, 2017, 1:45 PM IST
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PM Narendra Modi Lashes out at Opposition Leaders, Says Those Who Worked at World Bank Now Doubt India’s Ranking
PM Narendra Modi said India’s 30-place jump on World Bank’s Ease of Doing Business index is the recognition of “stupendous work done by us”.
New Delhi: India’s 30-place jump on World Bank’s Ease of Doing Business index is the recognition of “stupendous work done by us”, Prime Minister Narendra Modi said on Saturday.

Speaking at the presentation of India’s Business Reforms at Delhi’s Pravasi Bharatiya Divas, Modi also lashed out at opposition leaders for “questioning India’s progress”.

“The people questioning India’s good show on the Ease of Doing Business index are the ones who have themselves worked at World Bank. I have not even seen the World Bank building, but know India is on the right track. I want to tell them that had they done the kind of work we have, this achievement would have come during their tenure itself,” Modi said in a veiled attack on the previous Manmohan Singh government.

“They don’t want to work, but are quick to question those who do,” the PM said.

His statement comes days after the Congress said the global index was "not based on ground reality" as it had not taken into account the impact of GST and demonetisation.

"We, as a party, are not challenging the World Bank report. But it is not on the basis of ground reality. The survey is only confined to Delhi and Mumbai. It did not take into account other cities in the country. The impact of GST has not been taken into account. Even demonetisation has not been taken into account and people are really suffering because of these steps of the government. Obviously that will reflect on the Ease of doing business," Congress leader Rajeev Shukla had said.

On Saturday, the PM, too, acknowledged that the ranking had not considered GST, but said the tax reform would improve India’s showing further.

“This ranking takes into account reforms initiated only till May-end and does not reflect the impact of the GST, which was implemented from July 1. The GST has not just integrated the nation of 1.2 billion
into one market with one tax rate, but also provided a stable and transparent taxation regime,” he said.

“This reform, plus others that have already happened but need gestation and stabilisation time before they are taken into account by the World Bank, will improve the ranking…. All these combined, gives me confidence that India will accompany a place of pride in World Bank's report next year and the year thereafter.”

India jumped into 100th place on the World Bank's ranking of countries by Ease of Doing Business for the first time in its report for 2018, up about 30 places, driven by reforms in access to credit, power supplies and protection of minority investors.

The World Bank report, covering the period from June 2 last year to June 1 this year, ranked India top among the South Asian nations.
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