{"id":30442,"date":"2024-10-05T19:21:37","date_gmt":"2024-10-05T13:51:37","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=30442"},"modified":"2024-10-05T19:21:38","modified_gmt":"2024-10-05T13:51:38","slug":"indias-brap-2024-and-its-integration-with-the-world-banks-b-ready-index","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/05-10-2024\/indias-brap-2024-and-its-integration-with-the-world-banks-b-ready-index","title":{"rendered":"India\u2019s BRAP 2024 and Its Integration with the World Bank\u2019s B-READY Index"},"content":{"rendered":"\n

Syllabus: GS3\/ Economy<\/strong><\/p>\n\n\n\n

In News<\/strong><\/h2>\n\n\n\n
    \n
  • India is aligning its state business readiness rankings with the World Bank’s B-READY index<\/strong> as part of the government’s efforts to improve the country’s ease of doing business.\u00a0<\/strong><\/li>\n<\/ul>\n\n\n\n

    About<\/strong><\/h2>\n\n\n\n
      \n
    • Alignment with B-READY Index: <\/strong>The BRAP rankings prepared by the Department for Promotion of Industry and Internal Trade will integrate select indicators from the World Bank\u2019s B-READY index in their 2024 version.<\/li>\n\n\n\n
    • Enterprise Survey Launch: <\/strong>The enterprise survey for the B-READY index is set to commence in October. The World Bank will collaborate with the Ministry of Statistics and Programme Implementation to determine a sample of industries for this enterprise study.<\/li>\n\n\n\n
    • Participation Timeline:<\/strong> While the B-READY rankings will begin in 2024, India\u2019s participation in this exercise will not occur until 2026.\n
        \n
      • The Union government has encouraged states to identify and rectify gaps identified in the B-READY evaluation to enhance their standings in the international index.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n

        Rationale Behind B-READY Index<\/strong><\/h2>\n\n\n\n
          \n
        • The B-READY index is intended to replace the previously used Ease of Doing Business rankings, which were halted in 2021 due to reported irregularities. This new framework aims to consider a broader array of factors when assessing a country\u2019s business environment.\u00a0<\/li>\n\n\n\n
        • Global financial institutions and multinational corporations are expected to use the B-READY framework to gauge regulatory and policy conditions within nations.<\/li>\n\n\n\n
        • The B-READY index will provide an important tool for countries to understand and improve their business regulatory environments, helping attract investments and foster economic growth.<\/li>\n<\/ul>\n\n\n\n

          About Business-Ready (B-Ready) Index<\/strong><\/h2>\n\n\n\n
            \n
          • The B-READY Index is an upcoming global ease of doing business ranking system<\/strong> developed by the World Bank.\u00a0<\/strong><\/li>\n\n\n\n
          • It is designed to replace the discontinued Doing Business Report (discontinued in 2021) <\/strong>and will assess and compare the business environment and regulatory framework across different countries.<\/li>\n\n\n\n
          • Key Features of the B-READY Index:<\/strong>\n
              \n
            • Assessment of Business Environment:<\/strong> The index will evaluate countries based on the ease of starting, operating, and scaling businesses.<\/li>\n\n\n\n
            • Enterprise Surveys: <\/strong>The ranking will rely heavily on enterprise surveys, which involve collecting data from businesses in different sectors to understand the regulatory challenges they face.<\/li>\n\n\n\n
            • Comprehensive Indicators<\/strong>: It will track various indicators, including the ease of obtaining permits, taxation systems, access to credit, and other factors that influence the business environment.<\/li>\n\n\n\n
            • Focus on Inclusivity:<\/strong> The index aims to ensure that diverse business environments, especially those in emerging economies, are fairly evaluated.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
              Important Points:<\/strong>
              – India\u2019s Previous Performance: India saw an improvement in its Ease of Doing Business Index ranking, moving from 142nd place in 2014 to 63rd in 2020.
              – Recent BRAP Rankings: The government recently released the BRAP 2022 rankings, with Andhra Pradesh and Kerala emerging as the top performers.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

              Source: MoneyControl<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

              India is aligning its state business readiness rankings with the World Bank’s B-READY index as part of the government’s efforts to improve the country’s ease of doing business.\u00a0<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-30442","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/30442","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=30442"}],"version-history":[{"count":1,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/30442\/revisions"}],"predecessor-version":[{"id":30443,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/30442\/revisions\/30443"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=30442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=30442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=30442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}