November 6, 2014 2:17 PM

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India's ranking to improve if states' best practices included: World Bank

A World Bank official has said that India's ranking in the ease of doing business list will improve if it includes the best practices followed at the state level. India's position in the recent ranking had slipped to 142 among 189 countries, as against 134 last year. The latest ranking, however, does not take into account the latest slew of measures taken by Modi government to make India a business friendly destination.During an interaction on social networking site Facebook yesterday, World Bank senior country economist Denis Medvedev said that India's ranking would improve by at least 50 notches if all of the country's best practices were put together. Mr. Medvedev added that there is a need to understand that this ranking is relative and so, even though a country's actual score may have improved, the scores of other countries might have improved even more.During the hour-long chat, Medvedev expressed optimism about the country reaping the demographic dividend in the next decade, when the population over the world starts to age. On the government's recent moves to have an expenditure management commission, Medvedev said it will identify steps to improve fiscal performance.To make growth more sustainable over a longer-term, the World Bank economist said India should focus on clearing bottlenecks in the near-term such as creating a good businessenvironment and providing sufficient energy supplies while at the same time establishing foundations for stronger long-term growth by managing urbanisation and building skills.

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