KACHARAGADLA

India’s efforts to create a more conducive climate for business activity were "remarkable" and "substantial", says the World Bank’s Chief Economist Kaushik Basu. It is possible for India to break into the top 100 rankings in the World Bank’s Ease of Doing Business listing within one year, according to the Bank’s Chief Economist Kaushik Basu. KACHARAGADLA: Here's why World Bank thinks India can make it in top 100 of ease of doing business index India’s efforts to create a more conducive climate for business activity were “remarkable” and “substantial”, Professor Basu, who was the Indian government’s Chief Economic Adviser between 2009 and 2012, said in an exclusive conversation with  The Hindu . Still, the nation’s absolute rank in the Bank’s 2016 Doing Business report was 130 and it had “no business being there,” he said. The report’s release comes just as the Narendra Modi government has begun its 18th month in power. Questions persist as to w

India improved its ranking in  ease of doing business index  and jumped 12 ranks to 130 th  spot, the  World Bank  said it is not impossible for the country to be in the top 100. World Bank Chief Economist and Senior Vice President Kaushik Basu said if India continues with its economic reforms, like the Goods and Services Tax, and erases bureaucratic cost of doing business, it would not be impossible for India to rank in top 100. "There are countries which have moved 30-40 places at one go, but usually these are small countries. For a big economy like India, it is difficult, but from what we have seen thus far, it is not impossible," Basu. While Basu lauded the reforms in India and said India had a reasonably substantial movement in the first year itself, he felt the country has a long way to go. "There is a lot of serious interest in India to cut down bureaucratic costs of doing business for small and medium-sized firms. It is important however to r

Construction will begin in May 2016 on Indonesia’s largest wind farm as Asia Green Capital Partners Pte Ltd., a Singapore-based clean energy developer, lines up financing for the 62.5 MW project. The World Bank’s International Finance Corp. will contribute to the project known as Jeneponto 1, which will cost $120 million to $135 million, according to Edgare Kerkwijk, managing director of Asia Green Capital. The firm expects the project to achieve "financial closure in the first quarter of 2016,” Kerkwijk said. Standard Chartered PLC has been appointed as the financial adviser. The power purchase agreement for the project is being negotiated and is expected to be signed in three to four weeks. The project will be funded through 25 percent equity, which will come from IFC and Asia Green Capital. The remainder will come from in the form of loans from IFC, the Asian Development Bank, Denmark’s export credit agency EKF and other banks, he said. This wind f