World Bank rating India for ease of doing business has jumped up for better and that surprises all of India – regardless of party affiliation.
“India fares very badly in enforcement of contracts”, said Niti Ayog CEO to the prestigious Bloomberg News of New York. Further he hit on nail when he said, “we need commercial special courts for contract reinforcement”.
His interview’s most important part was adjournment issue, “There are way too many adjournments, we need to ensure there are no adjournments after three adjournments”.
Further he said that if we are able to do these small reforms, India’s rating on law and order will jump substantially.
These reforms will attract great deal of foreign investment and result in better jobs and wealth creation, he said.It will create transparent judiciary. Foreign investors will not be frightened that any little dispute taken over by a trial court will take 15 to 17 years to resolve. Let us not make a mockery of Justice !
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