डेहरी के मतदाताओं के नाम खुला पत्र।

Improvement of 65 ranks in #EaseofDoingBusiness since 2014 is a major achievement in today’s world economy and needs celebrations across India :- 

    Mr. Shishu Ranjan,

Economist and Banker

Finally, the reforms initiated by PM #NarendraModi has started paying rich dividend. Yesterday, India improved its ranking by 23 position which is best for this year. In the latest report by #WorldBank, India moved up from 100 rank to 77 this year. It should be noted that last year, India improved its ranking from 130 to 100. If we consider the period of 2014, the gains look even more lucrative as India was placed at 142 at that time. 

The reason for such gains are multiple. But the root cause remains same i.e. economic reforms carried out under the BJP led government who came to power promising “Achhe Din”. Intellectuals can debate the status of this promise, but the claim of achievements of this government is being validated by several independent studies such as this one. Improved ranking clearly means that Indian economy has been turning into business friendly. With increase in business activities through several government initiatives as well as private ones, employment should pick up and so the GDP growth. #StartUpIndia #StandUpIndia, #MakeInIndia, #SkillIndia, and many more programs initiated by PM Modi could not have seen light of the day if India did not improve its ease of business doing. Therefore, it would not be bad to say that the success of these programs was dependent on central government economic reforms and the government has been able to pass that test with first division marks. 

How this achievement is going to help further. This will help in getting investment from private sector. Reviving private investment has been challenging since financial meltdown of world economy as well as policy paralysis between the period of 2009-14 under UPA II rule led by none other than Dr. Manmohan Singh, who allowed rampant corruption and nepotism under his nose to strangle confidence of investors in Indian Economy. Increase investment will increase demand as well as stimulate private consumption. Both of these will help GDP growth to push upward. 

However, there will be challenges in short run. With the election in three big states and general election within an year, there is a political risk of sabotaging the ongoing economic reforms. Change in political leadership in the country will not be a good signal for the investors. Therefore, citizens of this country need to do a thorough cost benefit analysis with this political risk in consideration and vote accordingly to elect a decisive government. We can only hope that India continues to climb the ladder with fast speed as shown in achieving improvement in Ease of Doing Business Ranking. 

Jai Hind Jai Bharat