PM Modi: Those who worked with World Bank previously raising doubts over India’s ranking

"I sense a well deserved mood of celebration here, World Bank has recognized stupendous work done by us towards ease of doing business," said PM Modi while beginning his address.

By: Express Web Desk | New Delhi | Updated: November 4, 2017 1:44 pm
narendra modi, ease of doing business index, modi nri centre adress, india, world bank, indian express PM Modi at the Pravasi Bhartiya Kendra in New Delhi on Saturday (ANI)

Prime Minister Narendra Modi on Saturday attended the ‘India’s Business Reforms’ event at Pravasi Bhartiya Kendra in New Delhi where he talked about the recent rankings the country recieved in the ‘Ease of Doing Business’ index published by the World Bank. “I sense a well deserved mood of celebration here, World Bank has recognised stupendous work done by us towards ease of doing business,” said PM Modi while beginning his address.

“Aur kya kaam hai mere paas, bas ek hi kaam hai-ye desh, mere desh ke sava sau crore log aur unke jeevan mein mein badlaav laana(what other work do I work other than bringing about a change in the 1.25 crore people and their lives),” he said.

PM Modi also launched a scathing attack on the Opposition saying had this ranking been achieved earlier, we would have been a better nation by now. He also said, “Instead of questioning the ranking on the respective World Bank index, we should strive towards making India a better nation.”

“Kuch logon ko bharat ki ranking 142 se 100 hone ki baat samajh nahi aati hai, inko fark nahi padtam, (Some people do not understand the impact of India’s ranking going up from 142 to 100, they are not bothered by it)” the PM said, adding, “Aur isme kuch log aise hain jo pehle World Bank mein reh chuke hain. Vo aaj bhi Bharat ki ranking pe sawal utha rahe hain (some of these people are those who have been with the World Bank in the past, who are raising questions on India’s ranking even today).”

READ | India leaps 30 places to 100th rank in World Bank’s ‘ease of doing business’ index

“Mai aisa PM hoon jisne World Bank ki building bhi nahi dekhi hai, jabki pehle World Bank ko chalane wale log yahan baitha karte thhey (I’m a PM who has not seen the World Bank building even, while the people running World Bank used to sit here), the PM said.

“World Bank has recognised our efforts,” the PM said. He added that while deciding upon the rankings, GST was not taken into account as the tax reform was implemented from July 1 while the index was based on reforms taken only till May-end. “Our mantra of reform, perform and transform with help from World Bank will surely create a better nation,” the PM said. He also said that a group ministers is looking into issues raised by traders and businessmen regarding the tax reform and the GST Council will make the necessary changes in its next meeting on November 9-10.

Talking about employement in the country, PM Modi said, “We are a young country and job creation is an opportunity as well as a challenge.” “Small businesses are India’s largest employer. We must reduce cost of doing business,” the PM said.

In Aug 2017, India received $9.64 billion – highest ever FDI received in any month, ever,” the PM said, adding, “Total FDI inflow into India has seen a 67 per cent increase in short span of three years. Today, 99 per cent approvals via automatic route.”

India is one of the most open economies in the world. In 3.5 years, FDI reforms in 21 sectors across 87 policy areas have been implemented,” he said, adding, “Along with manufacturing, we’re also pushing for more growth in infrastructure development and investment climate.”

“Technology should be used to improve governance. Efforts are being made to make India a technology driven society,” the PM said.

“Over last three years there has been a sea change in government response, both at the Central and state level. State governments are finding innovative ways to create a business-friendly environment. This is an exciting time,” he said, adding, “Competitiveness exists alongside cooperation (in state implementation of Ease of Doing Business). The Union government has done a lot on this front including resolved multiple regulatory policies to ease business industry.” “Along with manufacturing, we’re also pushing for more growth in infrastructure development and investment climate,” he said.

(With inputs from agencies)

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