(Sachchidanand Shukla is the Chief Economist at Mahindra Group. The column was first published in the Indian Express on October 27, 2021)
- The IMF’s executive board recently expressed confidence in the leadership of Kristalina Georgieva in the Doing Business survey controversy that raised doubts over the integrity of Ease of the Doing Business (EoDB) rankings. India has made considerable progress on these rankings since 2016. While the Centre’s focus on EoDB has been commendable, several state governments have also made efforts to improve business conditions. This, along with the cut in corporate tax rates, the launch of Gati Shakti, the sale of Air India as part of an aggressive asset monetisation plan, the scrapping of retrospective taxation, the PLI scheme and labour reforms are likely to provide a boost to the manufacturing sector.