India rises by one spot in a global index of business optimism: Report

global-index-of-business-optimismCurrent Affairs : India improved its ranking by one spot in a global index of business optimism, with policy reforms and Goods and Services tax (GST) expected to become a reality soon, says a survey report.
What is in the report

According to the latest Grant Thornton International Business Report-

  • India was ranked second on the optimism index during the third quarter (July-September 2016).
  • Indonesia took the top spot, with the Philippines coming in third.
  • India was ranked third during the April-June period after being on top for two consecutive quarters.
  • 59 per cent of the respondents have quoted this as an impediment in the growth prospects compared to 64 per cent in the previous quarter.
While India continues to be amongst the top five countries citing regulations and red tape as a constraint on growth, for the first time in the year, the country’s ranking on this parameter has dropped from second to fourth.
The report is prepared on the basis of a quarterly conducted global business survey of 2,500 businesses across 36 economies.
Meanwhile, in terms of revenue expectations, India slipped to third position from top in the previous quarter.

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