Odisha capital Bhubaneswar was ranked as the 3rd best city among 17 cities in the country in terms of ease of doing business, according to a survey report by the World Bank.
The Subnational Economy Rankings based on Doing Business in India, 2018 survey by the World Bank stated that Bhubaneswar has been placed behind Ludhiana and Hyderabad as the most sought after city to do business.
The study used different parameters like quantitative measures of regulations for starting a business, dealing with construction permits, employing workers, registering property, getting credit, protecting investors, taxes, trading across borders, enforcing contracts, getting an electricity connection and closing a business to rank cities.
It measured data on the ease of doing business, ranked each location, and recommended reforms to improve performance in each of the indicator areas for all the 17 cities.
As per the report, Bhubaneswar was placed as the 5th best city to start a business while it topped the list in trading across borders. In terms of enforcing contracts and resolving insolvency, the city was ranked 5th.
The capital was ranked 8th best in the country while dealing with construction permits and 9th best in terms of paying taxes.
However, it stood last at number 17 in terms of registering property.
The World Bank’s ‘doing business rankings’ is a benchmark study published annually containing detailed analysis of costs, requirements and procedures a specific type of private firm is subject different cities and as many as 190 countries across the world.
The ‘doing business rankings’ for 2018 was released earlier on Tuesday. India leapfrogged to enter the top 100 club this year, moving up by 30 ranks in terms of business ease. While, New Zealand topped the World Bank index, Singapore came 2nd and Denmark was third.
Courtesy: Odisha TV