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Doing business: World Bank Group to stop doing business report – Times of India

New Delhi: world bank group decided to stop publishing doing business report On the investment climate in the country after allegations of irregularities.
The decision was taken after an investigation into data irregularities in 2017 allegedly due to pressure from some top bank officials to boost China’s rankings.
After reviewing all the information available so far on “Doing Business”, including the findings of previous reviews, audits and the report issued by the Bank on behalf of the Board of Executive Directors today, world Bank The group management has decided to close doing business report,” the World Bank Group said in a statement on Thursday.
The group is strongly committed to advancing the role of the private sector in development and providing support to governments to design a regulatory environment that supports them, it said.
“Going forward, we will be working on a new approach to assessing the business and investment climate. We are deeply grateful for the efforts of the many staff members who have worked diligently to advance the business climate agenda, and We look forward to harnessing their energy and capabilities in new ways,” it said.
Noting that trust in World Bank Group research is important, it said, World Bank Group research informs the actions of policy makers, helps countries make better informed decisions, and helps stakeholders make economic and social reforms more efficient. Allows for accurate measurement.
Such research has been a valuable tool for the private sector, civil society, academics, journalists and others to broaden their understanding of global issues.
After data irregularities on Doing Business 2018 and 2020 were reported internally in June 2020, it said, the World Bank management withheld the next Doing Business report and initiated a series of audits and review of the report and its methodology.
Furthermore, because internal reports raised ethical matters, including the conduct of former board officers as well as current and/or former bank employees, the management reported the allegations to the bank’s appropriate internal accountability mechanism, it said.
According to the ‘Doing Business’ 2020 report, India jumped 14 places to 63rd position in the Ease of Doing Business rankings. India has improved its rank by 79 posts in five years (2014-19).

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