Credit availability ranking has improved to 29 from 44 and ease of paying taxes has seen a jump to 119th position from 172nd previously."This is a major major jump," Rita Ramalho, Acting Director for World Bank's Global Indicators Group, told PTI in Washington, attributing the climb of 30 places to the series of reforms undertake by the Modi government since 2014.To expedite the Bharatmala projects, apart from ministry of road transport and highways and state-run firms—NHAI and National Highways and Infrastructure Development Corporation Ltd (NHIDCL)—even respective state public works departments (PWDs) will be roped in for timely execution, the government said.
The ambitious umbrella programme will subsume all existing highway projects including the flagship National Highways Development Project (NHDP), launched by the Atal Bihari Vajpayee government in 1998.
The project will start from Gujarat and Rajasthan, move to Punjab and then cover the entire string of Himalayan states - Jammu and Kashmir, Himachal Pradesh, Uttarakhand - and then portions of borders of Uttar Pradesh and Bihar alongside Terai, and move to West Bengal , Sikkim, Assam, Arunachal Pradesh, and right up to the Indo-Myanmar border in Manipur and Mizoram.
On 24 October, 2017 the government of India announced that cabinet has approved Rs 6.92 lakh crore ambitious roads programme, to build an 83,677 km road network over the next five years.
But more importantly, the government said that this road construction project will generate 14.2 crore mandays of jobs in the country.
In its annual report 'Doing Business 2018: Reforming to Create Jobs', the World Bank said that India's ranking reflects nearly half of the 37 reforms, adopted since 2003, implemented in the last four years.
With June as cut-off for assessing business environment, the ranking does not take into account the landmark reform of Goods and Services Tax (GST), which from July 1 weaved the country of 1.3 billion into one market with one tax and removed inter-state barriers for trade.
Also, demonetisation has not been covered in the report.
The ranking comes as a shot in the arm for the government that has been battling dissenting voices against the way GST was implemented and growth being hit, although temporarily, due to demonetisation of higher denomination currency.
The GST, which was implemented from July 1, will get reflected only in next year's 'ease of doing business' report. It would come into play for the report next year," Ramalho said, adding that demonetisation was not covered. According to the World Bank, New Zealand is the easiest place on the planet to do business, followed by Singapore, Denmark, South Korea and Hong Kong.