Panel to suggest ways to improve India's biz climate: Govt

NEW DELHI: The government today said a panel of corporate leaders and other experts, under the chairmanship of former Sebi chief M Damodaran, will suggest ways to improve business climate in India, given its low ranking in a 'Doing Business' list of World Bank.

The government recognises the need for reforming the regulatory environment for doing business in India against the backdrop of a low 132nd ranking given to India in World Bank's Doing Business list of 183 countries, Minister of State of Corporate Affairs R P N Singh said in a reply to the Lok Sabha.

The minister replied in affirmative to a question that whether the government has taken note of the dismal ranking of India in such a World Bank list.

"... a committee under the Chairmanship of M Damodaran has been constituted on August 23, 2012, by Ministry of Corporate Affairs to extensively examine different areas of root functioning the such as financial reforms, governence reofrms, liberlaised policy framework, process reforms etc., and to suggest a roadmap for improving business climate in India," Singh said.