PM Modi slams opposition for downplaying World Bank report

India breaks into top 100 on world bank's ease of doing business index

India breaking into the top 100s' club came on the back of a slew of reforms like faster to start business, reduction in procedures and time involved in obtaining a building permit, easier access to credit, protecting minority investors, ease of paying taxes, trading across borders, enforcing contracts and easier resolution of insolvency.

"We have learnt that in reforms what pays off is persistence.what we are recognising in India is that this success today is to be turned into more energy in reforms for the future", she said.

Taking a dig at the Opposition, Modi said had this ranking been achieved earlier, we would have been a better nation by now.

However, Modi hailed the efforts of all the stakeholders from different states who accepted the GST reforms and demonetisation and said that GST will not only bring ease in doing business, but it will also bring ease in living.

PM Modi also said that the World Bank report had not taken into account the implementation of the Goods and Services Tax. "They are raising questions", said Modi at the "India's Business Reforms" at the Pravasi Bharatiya Kendra in the national capital.

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Prime Minister Narendra Modi addressed India's Business Reforms event in New Delhi on November 4 where he criticised the Opposition for downplaying the World Bank ranking India at 100 in its ease of doing business report.

Modi said that a panel of ministers was working on the concerns raised by small traders and businessmen on GST.

"Ease of doing business also leads to ease of life", said Modi, adding that the government has abolished 1,200 archaic laws that complicated the ease of doing business in India. He said almost all issues raised by small and medium enterprises at the GST Council were being positively accepted.

Modi further said that he had one motto in life - to serve the 1.25 billion Indians and bring about change in their lives. "They don't care", he said. "India's performance is not based on efforts of just one year but consistent efforts made over the last three years to continuously improve the regulatory environment of doing business", Annette Dixon, Vice President South Asia, told a press conference. We want to do better and better. In a federal democracy like India, it is often not easy to take on board every stakeholder while undertaking reforms. "You did nothing and those who are reforming you are questioning them?"

He said that over the last three years the government has evaluated business regulations. "This is an exciting universe in which competitiveness and cooperation co-exist", he said.

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