PM Narendra Modi Unveiled Ease of Doing Business Grand Challenge

PM Narendra Modi Unveiled Ease of Doing Business Grand Challenge: Details, Features, Aim, Significance, Highlights

Prime Minister Narendra Modi unveiled 'Ease of Doing Business Grand Challenge' on resolving seven identified Ease of Doing Business problems with the use of modern technologies.

EODB Grand Challenge is aimed at recognizing the potential of young Indians, startups and other private enterprises to provide solutions to complex problems using current technology with it Government’s resolve to make India one of the easiest places to conduct business in the world.

The Government has made efforts to ensure that India consistently improves its business environment. This challenge is aimed at attracting innovative ideas on artificial intelligence (AI), Internet of Things (IoT), big data analytics, blockchain and other cutting-edge technology to reform government processes.

EODB Grand Challenge platform will be on Start Up India portal.

The date for closing of applications is 1st January 2019 and the final results will be declared on 1st February 2019.

The top 3 teams for each problem statement would be awarded cash prizes worth Rs 1 lakh, Rs 2 lakh and Rs 3 lakh respectively.

The government would be working with all the winners for solution development and implementation.

Background

In World Bank’s Doing Business Report (DBR, 2019) released in October 2018, India has recorded jump of 23 positions against its rank of 100 in 2017 to be placed at 77th rank among 190 countries.

As a result of continued efforts by the Government, India has improved its rank by 53 positions in the last two years and 65 positions in the last four years (2014-18).

In 2014, India was ranked 142nd among 190 nations. World Bank’s Ease of Doing Business index ranks 190 countries based on 10 parameters, including starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts, and resolving insolvency.