India's war on red tape is working, says World Bank

India jumps 23 places to take 77th rank in World Bank's 'Ease of Doing Business' index

New Zealand is best place to do business but UK slips to ninth – report

Additionally, China is one of this year's top 10 improvers, advancing more than 30 spots to 46 place in the global rankings.The region's economies carried out a total of 43 reforms in the past year, with a major push seen in the areas of Starting a Business and Getting Electricity.

According to the report, among south Asian neighbours, Pakistan's regional average score stands at 56.71, with China at 73.6, India at 67.23, and Bangladesh at 41.97. The Index seeks to measure 11 areas of business, among them the procedures, timelines and cost related to construction, protection of minority investors, payments of tax, time and cost to export a product or import it and to resolve commercial dispute, the quality of the judicial process and time taken and the cost for resolution or insolvency. It said that the report should have also covered other credit bureaus such as the TransUnion Information Solutions, Inc., and Microfinance Information Data Sharing Inc., which holds the information of 13.7 million debtors.

"We strongly believe that while Nigeria did not increase in the rankings, the country has indeed witnessed an improvement in the enabling business environment in the past year". After all ease of doing business is all about minimum governance and your investment process is guided by it. The country, it added, has improved its ranking by 53 positions in the last two years and 65 positions in four years since 2014.

Regarding mainland China, the World Bank said the country demonstrated "impressive reform agendas" to improve the business regulatory environment. Mr Jaitley said, reaching to 50 from the 142nd position is an unprecedented growth in World Bank business Ratings.

The single biggest gain was in the area of construction permits, where India now ranks #52 globally - 129 places higher than the last time.

Dismal Aussies whitewashed in T20 series
Shoaib Malik scored 18 and became the second-highest run-scorer in T20 global history, passing New Zealand's Brendon McCullum . They have suffered four defeats in a row against Pakistan across a combination of the longest and shortest formats.

A Hong Kong government spokesman said the city's improved ranking reflected "continuous enhancements in our business facilitation measures".

The Philippines' ease of doing business overall score actually improved to 57.68 this year from 56.32 last year, as there were three reforms introduced, from two reforms the previous year.

According to details of the report, of the 190 countries ranked by the World Bank, Nigeria ranked 146 in 2018, dropping by a spot from its 145th position in 2017.

Regarding getting electricity, newly-adopted regulations from the Delhi Electricity Regulatory Commission require that electrical connections be completed within 15 days of the application's acceptance. It takes 69 days and costs about 8 per cent of the property value to register a property, compared to 20 days and 4.2 per cent among high income OECD economies. The country has moved over 60 places under the current government. The latest reform initiatives included electronic submission of documents and upgrading of port infrastructure. The country had entered the top 100 past year with a bigger jump of 30 places.

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