economics medium Fill in the Blank

The 'Ease of Doing Business' index, which was historically published by the World Bank and used to rank countries on regulatory efficiency, was discontinued in 2021 due to data irregularities and is being replaced by a new framework called ___.

  1. Consumer Price Index (CPI)
  2. B-READY (or Business Ready)
  3. gig
  4. NPCI (or National Payments Corporation of India)

Answer: B-READY (or Business Ready)

The World Bank scrapped the flagship Ease of Doing Business report following an ethics audit that revealed data manipulation in previous editions. To restore credibility, the Bank launched the 'Business Ready' (B-READY) project, which aims to evaluate the business environment with a more robust, transparent, and balanced methodology that includes labor rights and environmental sustainability.

Topic Indian Economy - Indices
Exam Relevance UPSC Prelims, SSC CGL
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