Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: due date for vat payment :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: VAT RATES :: form 3cd :: VAT Audit :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: TDS :: cpt
 
 
« General »
 Tax Department To Launch 2nd Phase Of Bank Accounts' Scrutiny Next Month
 How to claim tax benefit on tuition fees under Section 80C
 Online Income Tax grievance redressal facility launched at 60 offices
 Demonetisation impact on government tax revenue marginal; direct tax personal income grew at above budget estimates
 ICAI seeks more accountability, transparency in defence sector
 Will Budget help double farmers’ income?
 Verify online deposits made post demonetisation, income tax department asks taxpayers
 Union Budget 2017: Best budget is do not change anything, do no harm, implement well
 Why salaried class deserves standard deduction
 3 new taxes that Modi government could introduce, but won't
 Tax gains may showcase demonetisation windfall

Global competitiveness: India fares badly on tax, inflation
September, 03rd 2014

India is among the worst- ranked countries when it comes to taxation and inflation burden on economy, as also in terms of the negative impact of crime, terrorism and health hazards on business environment, a WEF report said today.

Out of 144 countries analysed by the World Economic Forum, India ranks 133rd in terms of inflation, 130th for taxes and 131st for starting a business.

Besides, India has been ranked at 125th place in terms of business cost of terrorism and at 98th in terms of business cost of crime and violence. With regard to organised crime, the country is ranked at 114th place.

The findings are part of WEF's annual Global Competitiveness report, where India's overall ranking has slipped 11 places to 71st. Switzerland has retained its top slot.

The strength of auditing and reporting standards also is very low in the country and it was placed 102nd rank. In terms of electricity and telephony infrastructure it at 118 and quality of electricity supply, 103.

The performance review was based on 12 pillars and India was ranked among the best economies in the world only in one aspect -- market size, wherein it was ranked third globally. A rank of 1-7 is considered among best in the world.

In terms of other "pillars" India was ranked at the 70th place in terms of institutions, infrastructure (87th), macro economic environment (101), health and primary education (98), higher education and training (93), goods market efficiency (95), labour market efficiency (112), financial market development (51), technological readiness (121), business sophistication (57) and innovation (49).

Other major factors affecting the competitiveness of India include, health hazards like Malaria and Tuberculosis, HIV/AIDS and infant mortality, the report said.

The country ranks as low as 131 out of 144 economies in terms of number of procedures required to start a business, implying that the country lags far behind its global peers in terms of ease of doing business.

According to the report, India's slide in competitiveness rankings began in 2009, when its economy was still growing at 8.5 per cent.

Noting that improving competitiveness would yield India huge benefits for India, WEF said it would help rebalance the economy and move the country up the value chain ensuring more solid and stable growth.

WEF further said that India needs to create a sound and stable institutional framework for local and foreign investors and improve connectivity.

 

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions