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National Affairs

National Affairs

What is Ease of Doing Business (EoDB) report by World Bank?

29 Jul 2023 Zinkpot 343
  1. The Ease of Doing Business (EoDB) is an index published by the World Bank that measures aggregate figures including different parameters which define the ease of doing business in a country.
  2. It is a parameter estimated by the distance to frontier scores of different economies. The distance to frontier score captures the gap between an economy’s performance and the measure of best practice across multiple business-related indicators.
  3. The various indicators involved in the formation of statistics ‘Ease of Doing Business,’ a distance to frontier score, is computed and all the scores are compiled together. This compiled score becomes the ease of doing business index.
  4. This research presents data for 189 economies of the world and aggregates information from the following areas of business regulation:
    1. Starting a business of all 
    2. Dealing with construction permits
    3. Getting electricity
    4. Registering property
    5. Getting credit
    6. Protecting minority investors
    7. Paying taxes
    8. Trading across borders
    9. Resolving insolvency
  5. Rankings and weights of each of the mentioned parameters are used to develop an overall EoDB ranking. A high EoDB means the regulatory environment is more conducive for starting and operating businesses.
  6. EoDB provides a reality check of the business environment of a country with respect to the world.
  7. In a recent report published by the Economist Intelligence Unit (EIU) for the rankings of the countries according to ease of doing business, Singapore has retained its number one rank among all. Canada and Denmark were ranked joint second with the US and Switzerland occupying 4th and 5th place, respectively.
  8. India has moved up six spots since the last report from 14th rank for the period between 2018-22, India now stands at 10th rank in terms of the business environment for the period 2023-27.
  9. India, Vietnam, Thailand, Belgium, Sweden, and Costa Rica made the biggest improvements over the past year in their business environments whereas China, Bahrain, Chile, and Slovakia deteriorated the most.
  10. According to the World Bank report on ease of doing business, India’s rank has improved from 142 in 2014 to 63 in 2022.
     

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