New Delhi: oversees the allegations of the manipulation of the World Bank’s business ranking as ‘surprising’, the former Chief of World Bank Economist Kaushik Basu said on Saturday that the pressure was there from the government during his tenure, but the multilateral institution never gave up.
The World Bank Group has decided to stop the Publication of the Doing Business (DB) report on the state investment climate after allegations of irregularities.
The decision was taken after the data probe of irregularities allegedly due to pressure by several top bank officials to increase China’s ranking in 2017 was revealed.
“News of the business ranking manipulation of the World Bank is surprising.
DB is under my charge from 2012 to 2016.
There is pressure from the government.
We never give up.
Sad that this changed.
I can add, for Indian credit, I never added having pressure from The Indian government is currently or before, “said Basu in a tweet.
He is the Chief of the World Bank economist starting in 2012 to 2016.
“After reviewing all available information for the current ‘doing business’, including the findings of previous reviews, audits, and bank reports released today in the name of the Executive Director Board, Bank Group Management The world has made a decision to stop the report of doing business, “said the World Bank Group in a statement on Thursday.
The group remains strong committed to advancing the role of the private sector in developing and providing support to the government to design this supportive regulation environment, said.
“In the future, we will work on a new approach to assessing the business and investment climate.
We are very grateful for the efforts of many staff members who have worked diligently to advance the agenda of the business climate, and we hope to use them energy and abilities in new ways,” he said.
Observing that trust in the research of the World Bank Group is very important, the word, the research of the World Bank group informs the action of policy makers, helping countries make better decisions, and allow stakeholders to measure economic and social improvement more accurately.
According to the ‘Doing Business’ 2020 report, India has surged 14 places to 63rd about ease of ranking business.
India has increased its ranking by 79 positions in five years (2014-19).