Lok Sabha Question No. 1653 (UNSTARRED), answered on 2016-11-25
Subject: World Economic Forum
Ministry: FINANCE
Asked by: HUKUM SINGH

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMEilT OF ECONOMIC AFFAIRS

LOK SABHA

UNSTARRED  QUESTION No. 1653

TO BE ANSWERED  ON: Friday, November  25, 2016/Agrahayana 4, 1938 (Saka)

## World Economic  Forum

## 1653. by SHRI HUKUM SINGH:

## OUE

Will the Minister of FINANCE  be pleased  to state:

- (a) whether the number of Indian firms among the global rapid growth companies  identified
- by the World Economic Forum has almost doubled to 30 now from !7 in 2O14.
- (b) if so, the details thereof;
- (c) whether the Government  has noted that despite India's improved performance  in the global  competitiveness  rankings, there still remain substantial  changes  in the ease of doing business and the taxation system;  and
- (d) if so, the details thereof  and the steps being taken in this regard?

## MrNrsrER oF srATE  ffirnrsrRy oF FTNANcE

## (Shri Arjun Ram Meghwal)

- (a) & (b) The number of Indian firms among  the global rapid growth  companies  identified by the World Economic Forum have increased lrom 17 in 2014 io 26 currently. The current 26 companies are: Allcargo Logistics  Limited, Ola Cabs, Apollo Hospitals Enterprise Ltd, Apollo International  Ltd, ATC Tires Private Limited, BMR Advisors, Centum  Electronics Ltd, Dabur India Ltd, Educomp Solutions Ltd, Eram Group, Forbes Marshall Private Limited, 6enpact Ltd, Jain Irrigation systems Ltd, Nash Industries (I)  pvt.  Limited, Navayuga  Group,  paytm, welspun Energy, siddho Mal Group,  parle  Agro, sonata software  Limited, sunjewels  Group, Tandon Group, The Eastern Group, Transport corporation  of India Ltd, Velankani Information Systems Private Limited, and WNS Global Services.
- (-c)  & (d) As per the World Economic Forum's Global Competitiveness  Report 2016-17, India's competitiveness  has improved and India rose 16 ranks faster to climb  ,r,;  pf  ace among 138 countries' However, there still remain  substantial  changes in the ease of doing business  and the taxation system and the Government at both Ceniral  and State levels  ar! rigorously  working on improving  the ease of doing business in the country.  In a landmark initiative, the Government of India has started  assessing the ease of doing business reforms in the states every year. This has generated  healthy  competition  among  states to improve the.ease of doing business and the momentum  is picking up continuousli,  which is reflected in the survey results. As compared to the first round of survey, which'was conducted last year, the highest  score has moved up from 7l.lo/o (by Gujarat) to 98.8olo now (by Andhra Pradesh and Telegana). As many as 12 states (out or'so itatei  /  UTS) have scored more than 90o/o, with 9 of them scoring more than 96%.

Further, both Central  and State Governments  are making endeavour to reduce the compliance cost of which has opened establishment of ta mobile check posts. the ease of doing bu tax filing. In majority of the states, tax filing has been made online, up provisions  like e-payment gateway, e-filing service centres, x database, advance  tax provislons,  and establishment of risk\_based Implementation of Goods and services Tax (GST) wifl further improve siness in the context to taxation.

## ON