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LATEST NEWS UPDATES | A development that will hardly put India at ease -R Nagaraj

A development that will hardly put India at ease -R Nagaraj

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published Published on Aug 31, 2020   modified Modified on Aug 31, 2020

-The Hindu

The World Bank’s decision to halt its annual ‘Doing Business’ report on data authenticity issues has major implications

On Thursday, the World Bank halted its annual publication, ‘Doing Business’ report, as it detected irregularities of data for a few countries. A World Bank Press release of August 27 said: “The integrity and impartiality of our data and analysis is paramount and so we are immediately taking the following actions. We are conducting a systematic review and assessment of data changes that occurred subsequent to the institutional data review process for the last five Doing Business reports. We have asked the World Bank Group’s independent Internal Audit function to perform an audit of the processes for data collection and review for Doing Business and the controls to safeguard data integrity...”

Rankings and ‘Make in India’

Should we bother about it? Yes, perhaps. India has sought to improve its ease of doing business index ranking, as a means to attract investments to achieve the targets set for ‘Make in India’, that was announced in 2014. The initiative aims at: raising the manufacturing sector’s share in GDP to 25% (from 16-17% per cent) and creating 100 million additional jobs in the manufacturing sector by 2022. India’s success in boosting its ease of doing business ranking is spectacular, to 63rd rank in 2019, up from the 142nd position in 2014. Policymakers celebrated it to signal India’s commitment to “minimum government and maximum governance”, the ruling coalition’s winning slogan in the 2014 general election.

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The Hindu, 31 August, 2020, https://www.thehindu.com/opinion/lead/a-development-that-will-hardly-put-india-at-ease/article32481836.ece?homepage=true


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