Rattled by the country’s poor 130th ranking out of the 190 nations in World Bank’s ‘ease of doing business report’ for 2017, Prime Minister Narendra Modi is likely to discuss threadbare its implications with his ministerial colleagues during the meeting of the Union Cabinet scheduled for Thursday.
The report has come as a setback for the government, especially as Mr Modi has aimed to bring India in the bracket of top 50 nations in the list within the next three years.
According to sources close to the developments, the prime minister, who on Wednesday in a high-level review meeting, asked all the central government secretaries and chief secretaries to study the report and analyse the potential areas where there is scope for improvement in their respective departments and states, is likely to seek the feedback of his Cabinet on the World Bank list and discuss the way forward to improve India’s prospects.
He has already asked the Cabinet secretary to seek a report on the matter from all the states and central government departments within a month.
India has been ranked 130th out of 190 countries in World Bank’s annual report on the ease of doing business titled ‘Doing Business 2017: Equal Opportunity for All’, which was released on Tuesday.
The Union Cabinet is also likely to take a decision on finance ministry’s proposal of advancing the date for budget presentation to February 1. Sources said that the Cabinet is likely to decide on the date on which finance minister Arun Jaitley will present the budget for 2017-18.
The Cabinet on September 21 had in-principle decided to end the colonial-era tradition of presenting the Union budget on last day of February and advance it by about a month to help complete the legislative process for approval of annual spending plans and tax proposals before beginning of the financial year on April 1.
Having decided to advance the budget presentation by a month, the government took the line that it should not be presented in the middle of Assembly polls in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur, which are scheduled for the first quarter of the next calendar year.
The finance ministry has been proposing that the Budget presentation date be fixed for February 1 and the entire exercise be completed by March 24.
