MONEY MATTERS

The World Bank has reported on business friendly nations and India holds a rank among them. But the U.S. is continuing its push on India to be more investor friendly. The World Bank and the International Finance Corporation have said that there were 245 business regulatory reforms made world wide between June 2010 and May 2011. And this is 13% more than the reforms made during the previous year.

The report said, “China, India and the Russian Federation are among the 30 economies that improved the most over time.” Singapore led on the overall ease of doing business, followed by Hong Kong, New Zealand, the U.S. and Denmark. A new entrant to the top ten place is the Republic of Korea.

Augusto Lopez-Claros, Director, Global Indicators and Analysis, World Bank Group, has said, “At a time when persistent unemployment and the need for job creation are in the headlines, governments around the world continue to seek ways to improve the regulatory climate for domestic business. Small and medium businesses that benefit most from these improvements are the key engines for job creation in many parts of the world.”

The Bank report also noted that e-government initiatives were on the rise. Use of electronic systems saves time and money for business and government. It also provides new opportunities for increasing transparency.

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