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Doing Business 2012 is a copublication of The World Bank and the ifc. Findings, interpretations and conclusions do not necessarily reflect the views of the Executive Directors of the bank or the governments they represent. The material in this publication is copyrighted. Copying and / or transmitting portions or all of this work without permission may be a violation of applicable law.

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Economy Profile:

India

2012 The International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington, DC 20433 Telephone 202-473-1000 Internet www.worldbank.org

All rights reserved. 1 2 3 4 08 07 06 05 A copublication of The World Bank and the International Finance Corporation. This volume is a product of the staff of the World Bank Group. The findings, interpretations and conclusions expressed in this volume do not necessarily reflect the views of the Executive Directors of the World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. Rights and Permissions The material in this publication is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. The World Bank encourages dissemination of its work and will normally grant permission to reproduce portions of the work promptly. For permission to photocopy or reprint any part of this work, please send a request with complete information to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; telephone 978-750-8400; fax 978-750-4470; Internet www.copyright.com. All other queries on rights and licenses, including subsidiary rights, should be addressed to the Office of the Publisher, The World Bank, 1818 H Street NW, Washington, DC 20433, USA; fax 202-522-2422; e-mail pubrights@worldbank.org. Copies of Doing Business 2012: Doing Business in a More Transparent World, Doing Business 2011: Making a Difference for Entrepreneurs, Doing Business 2010: Reforming through Difficult Times, Doing Business 2009, Doing Business 2008, Doing Business 2007: How to Reform, Doing Business in 2006: Creating Jobs, Doing Business in 2005: Removing Obstacles to Growth and Doing Business in 2004: Understanding Regulations may be downloaded at www.doingbusiness.org. ISBN: 978-0-8213-8833-4 E-ISBN: 978-0-8213-8834-1 DOI: 10.1596/978-0-8213-8833-4 ISSN: 1729-2638 Printed in the United States

Doing Business 2012

India

CONTENTS
Introduction .................................................................................................................................. 4 The business environment .......................................................................................................... 5 Starting a business ..................................................................................................................... 14 Dealing with construction permits ........................................................................................... 29 Getting electricity ....................................................................................................................... 41 Registering property .................................................................................................................. 48 Getting credit .............................................................................................................................. 58 Protecting investors ................................................................................................................... 65 Paying taxes ................................................................................................................................ 75 Trading across borders .............................................................................................................. 83 Enforcing contracts .................................................................................................................... 92 Resolving insolvency .................................................................................................................. 99 Data notes ................................................................................................................................. 105 Resources on the Doing Business website ............................................................................ 110

Doing Business 2012

India

INTRODUCTION
Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 10 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. In a series of annual reports Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 183 economies, from Afghanistan to Zimbabwe, over time. The data set covers 46 economies in SubSaharan Africa, 32 in Latin America and the Caribbean, 24 in East Asia and the Pacific, 24 in Eastern Europe and Central Asia, 18 in the Middle East and North Africa and 8 in South Asia, as well as 31 OECD highincome economies. The indicators are used to analyze economic outcomes and identify what reforms have worked, where and why. This economy profile presents the Doing Business indicators for India. To allow useful comparison, it also provides data for other selected economies (comparator economies) for each indicator. The data in this report are current as of June 1, 2011 (except for the paying taxes indicators, which cover the period JanuaryDecember 2010). The Doing Business methodology has limitations. Other areas important to businesssuch as an economys proximity to large markets, the quality of its infrastructure services (other than those related to trading across borders and getting electricity), the security of property from theft and looting, the transparency of government procurement, macroeconomic conditions or the underlying strength of institutionsare not directly studied by Doing Business. The indicators refer to a specific type of business, generally a local limited liability company operating in the largest business city. Because standard assumptions are used in the data collection, comparisons and benchmarks are valid across economies. The data not only highlight the extent of obstacles to doing business; they also help identify the source of those obstacles, supporting policy makers in designing regulatory reform. More information is available in the full report. Doing Business 2012 presents the indicators, analyzes their relationship with economic outcomes and recommends regulatory reforms. The data, along with information on ordering Doing Business 2012, are available on the Doing Business website at http://www.doingbusiness.org.

Doing Business 2012

India

THE BUSINESS ENVIRONMENT

For policy makers trying to improve their economys regulatory environment for business, a good place to start is to find out how it compares with the regulatory environment in other economies. Doing Business provides an aggregate ranking on the ease of doing business based on indicator sets that measure and benchmark regulations applying to domestic small to medium-size businesses through their life cycle. Economies are ranked from 1 to 183 by the ease of doing business index. For each economy the index is calculated as the ranking on the simple average of its percentile rankings on each of the 10 topics included in the index in Doing Business 2012: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. The ranking on each topic is the simple average of the percentile rankings on its component indicators (see 1 the data notes for more details). The aggregate ranking on the ease of doing business benchmarks each economys performance on the indicators against that of all other economies in the Doing Business sample (figure 1.1). While this ranking tells much about the business environment in an economy, it does not tell the whole story. The ranking on the ease of doing business, and the underlying indicators, do not measure all aspects of the business environment that matter to firms and investors or that affect the competitiveness of the economy. Still, a high ranking does mean that the government has created a regulatory environment conducive to operating a business.

ECONOMY OVERVIEW

Region: South Asia Income category: Lower middle income Population: 1,170,938,000 GNI per capita (US$): 1,340.00 DB2012 rank: 132 DB2011 rank: 139 Change in rank: 7 Note: See the data notes for sources and definitions.

Except for the ease of getting credit, for which the percentile rankings on its component indicators are weighted, the depth of credit information index at 37.5% and the strength of legal rights index at 62.5%.

Doing Business 2012

India

THE BUSINESS ENVIRONMENT

Figure 1.1 Where economies stand in the global ranking on the ease of doing business

Source: Doing Business database.

Doing Business 2012

India

THE BUSINESS ENVIRONMENT

For policy makers, knowing where their economy stands in the aggregate ranking on the ease of doing business is useful. Also useful is to know how it ranks compared with other economies and compared with the regional average (figure 1.2). The economys rankings on the topics included in the ease of doing business index provide another perspective (figure 1.3).

Figure 1.2 How India and comparator economies rank on the ease of doing business

Source: Doing Business database.

Doing Business 2012

India

THE BUSINESS ENVIRONMENT

Figure 1.3 How India ranks on Doing Business topics

Source: Doing Business database.

Doing Business 2012

India

THE BUSINESS ENVIRONMENT

Just as the overall ranking on the ease of doing business tells only part of the story, so do changes in that ranking. Yearly movements in rankings can provide some indication of changes in an economys regulatory environment for firms, but they are always relative. An economys ranking might change because of developments in other economies. An economy that implemented business regulation reforms may fail to rise in the rankings (or may even drop) if it is passed by others whose business regulation reforms had a more significant impact as measured by Doing Business. Moreover, year-to-year changes in the overall rankings do not reflect how the business regulatory environment in an economy has changed over time or how it has changed in different areas. To aid in assessing such changes, Doing Business 2012 introduces the distance to frontier measure. This measure shows the distance of each economy to the frontier, a synthetic measure based on the most efficient practice or highest score observed for each Doing Business indicator across all economies and years included in the Doing Business sample since 2005. Nine areas of business regulation are covered. Comparing the measure for an economy at 2 points in time allows users to assess how much the economys regulatory environment as measured by Doing Business has changed over timehow far it has moved toward (or away from) the most efficient practices and strongest regulations in areas covered by Doing Business (figure 1.4). The results may show that the pace of change varies widely across the areas measured. They also may show that an economy is relatively close to the frontier in some areas and relatively far from it in others.

Figure 1.4 How far has India come in the areas measured by Doing Business? Distance to frontier, 2005 and 2011

Note: For economies added to the Doing Business sample after 2005, the starting point is the year in which they were added: 2006 for Montenegro; 2007 for Brunei Darussalam, Liberia and Luxembourg; 2008 for The Bahamas, Bahrain and Qatar; and 2009 for Cyprus and Kosovo. See the data notes for more details on the distance to frontier measure. Source: Doing Business database.

Doing Business 2012

India

THE BUSINESS ENVIRONMENT

The absolute values of the indicators tell another part of the story (table 1.1). The indicators, on their own or in comparison with the indicators of a good practice economy or those of comparator economies in the region, may reveal bottlenecks reflected in large numbers of procedures, long delays or high costs. Or they may reveal unexpected strengths in an area of Table 1.1 Summary of Doing Business indicators for India business regulationsuch as a regulatory process that can be completed with a small number of procedures in a few days and at a low cost. Comparison of the economys indicators today with those in the previous year may show where substantial bottlenecks persist and where they are diminishing.

Starting a Business (rank) Procedures (number) Time (days) Cost (% of income per capita) Paid-in Min. Capital (% of income per capita) Dealing with Construction Permits (rank) Procedures (number) Time (days) Cost (% of income per capita)

166

120

151

155

Japan DB2012

China DB2012

Brazil DB2012

India DB2012

India DB2011

Indicator

107

111

New Zealand (1)

12 29 46.8

12 29 56.5

13 119 5.4

14 38 3.5

8 45 17.9

8 23 7.5

6 9 11.2

9 30 2.0

Canada (1)* New Zealand (1) Denmark (0.0)*

149.6

188.8

0.0

100.4

46.6

0.0

8.4

1.6

82 Economies (0.0)*

181

127

179

178

Hong Kong SAR, China (1) Denmark (5) Singapore (26)* Qatar (1.1)

34 227 1631.4

34 227 2058.7

17 469 40.2

33 311 444.1

13 158 105.3

14 193 27.9

10 81 333.1

51 423 183.8

Best performer globally DB2012

Russian Federation DB2012

Indonesia DB2012

Mexico DB2012

Doing Business 2012

India

Getting Electricity (rank) Procedures (number) Time (days) Cost (% of income per capita) Registering Property (rank) Procedures (number) Time (days) Cost (% of property value) Getting Credit (rank) Strength of legal rights index (0-10) Depth of credit information index (0-6) Public registry coverage (% of adults) Private bureau coverage (% of adults) Protecting Investors (rank) Extent of disclosure index (0-10)

98 7 67 216.2

109 7 67 400.6

51 6 34 130.3

115 5 145 640.9

161 7 108 1379.0

Japan DB2012

China DB2012

Brazil DB2012

India DB2012

India DB2011

Indicator

26 3 117 0.0

142 7 114 395.5

183 10 281 1852.4

Iceland (1) Germany (3)* Germany (17) Japan (0.0)

97 5 44

96 5 44

114 13 39

40 4 29

99 6 22

58 6 14

140 7 74

45 5 43

New Zealand (3) Portugal (1)* Portugal (1)

7.3 40 8

7.4 37 8

2.3 98 3

3.6 67 6

10.8 126 3

5.7 24 7

5.3 40 6

0.2 98 3

Slovak Republic (0.0) United Kingdom (1)* New Zealand (10)*

Japan (6)*

0.0

36.1

82.5

31.8

0.0

Portugal (86.2)

15.1

10.0

61.5

0.0

99.0

98.1

35.8

New Zealand (100.0)*

111

New Zealand (1)

France (10)*

Best performer globally DB2012

Russian Federation DB2012

Indonesia DB2012

Mexico DB2012

Doing Business 2012

India

Extent of director liability index (0-10) Ease of shareholder suits index (0-10) Strength of investor protection index (0-10) Paying Taxes (rank) Payments (number per year) Time (hours per year) Trading Across Borders (rank) Documents to export (number) Time to export (days) Cost to export (US$ per container) Documents to import (number) Time to import (days) Cost to import (US$ per container) Enforcing Contracts (rank)

Japan DB2012

China DB2012

Brazil DB2012

India DB2012

India DB2011

Indicator

Singapore (9)*

New Zealand (10)*

6.0 147

6.0 165

5.3 150

5.0 122

6.0 131

7.0 120

6.0 109

4.7 105

New Zealand (9.7) Canada (8)

33 254 109

56 258 107

9 2600 121

7 398 60

51 266 39

14 330 16

6 347 59

9 290 160

Norway (4) Luxembourg (59) Singapore (1)

France (2) Hong Kong SAR, China (5)* Malaysia (450)

1095

1055

2215

500

644

880

1450

1850

9 20 1070

9 20 1025

8 17 2275

5 24 545

7 27 660

5 11 970

4 12 1780

10 36 1800

France (2) Singapore (4) Malaysia (435)

182

118

156

Luxembourg (1)

Best performer globally DB2012

Russian Federation DB2012

Indonesia DB2012

Mexico DB2012

Doing Business 2012

India

Time (days) Cost (% of claim) Procedures (number) Resolving Insolvency (rank) Time (years) Cost (% of estate) Recovery rate (cents on the dollar)

1420 39.6 46 128 7.0 9 20.1

1420 39.6 46 140 7.0 9 16.3

731 16.5 45 136 4.0 12 17.9

406 11.1 34 75 1.7 22 36.1

570 122.7 40 146 5.5 18 13.8

Japan DB2012

China DB2012

Brazil DB2012

India DB2012

India DB2011

Indicator

360 32.2 30 1 0.6 4 92.7

415 32.0 38 24 1.8 18 67.1

281 13.4 36 60 2.0 9 41.5

Singapore (150) Bhutan (0.1) Ireland (21)* Japan (1) Ireland (0.4) Singapore (1)* Japan (92.7)

Note: The methodology for the paying taxes indicators changed in Doing Business 2012; see the data notes for details. For these indicators, the best performer globally is the economy that has implemented the most efficient practices in its tax system and is

not necessarily the one with the highest ranking. For more information on no practice marks, see the data notes for details.
* Two or more economies share the top ranking on this indicator. A number shown in place of an economys name indicates the number of economies that share the top ranking on the indicator. For a list of these economies, see the Doing Business website (http://www.doingbusiness.org). Source: Doing Business database.

Best performer globally DB2012

Russian Federation DB2012

Indonesia DB2012

Mexico DB2012

Doing Business 2012

India

STARTING A BUSINESS
Economies around the world have taken steps making it easier to start a businessstreamlining procedures by setting up a one-stop shop, making procedures simpler or faster by introducing technology and reducing or eliminating minimum capital requirements. Many have undertaken business registration reforms in stagesand they often are part of a larger regulatory reform program. Among the benefits have been greater firm satisfaction and savings and more registered businesses, financial resources and job opportunities. What business registration reforms has Doing Business recorded in India (table 2.2)?

Table 2.2 How has India made starting a business easieror not? By Doing Business report year

DB Year DB2012 DB2011 DB2010 DB2009

Reform No reform. India eased business start-up by establishing an online VAT registration system and replacing the physical stamp previously required with an online version. No reform. No reform.

Note: For information on reforms in earlier years (back to DB2005), see the Doing Business reports for these years, available at http://www.doingbusiness.org. Source: Doing Business database.

Doing Business 2012

India

STARTING A BUSINESS What are the details?

Underlying the indicators shown in this chapter for India is a set of specific proceduresthe bureaucratic and legal steps that an entrepreneur must complete to incorporate and register a new firm. These are identified by Doing Business through collaboration with relevant local professionals and the study of laws, regulations and publicly available information on business entry in that economy. Following is a detailed summary of those procedures, along with the associated time and cost. These procedures are those that apply to a company matching the standard assumptions (the standardized company) used by Doing Business in collecting the data (see the section in this chapter on what the indicators measure). STANDARDIZED COMPANY City: Mumbai Legal Form: Private Limited Company Start-up capital: 10 times GNI per capita Paid-in minimum capital (% of income per capita): 149.6

Summary of procedures for starting a business in Indiaand the time and cost
No. Procedure Obtain director identification number (DIN) on-line The process to obtain the Director Identification Number (DIN) is as follows: 1) Obtain the provisional DIN by filing application Form DIN-1 online. This form is on the Ministry of Corporate Affairs 21st Century (MCA 21) portal www.mca.gov.in . The provisional DIN is immediately issued (Provisional DIN is valid for a period of 60 days. The application form must then be printed and signed and sent for approval to the ministry by courier along with proof of identity and address: A. Identity Proof (Any one) PAN Card Driving License Passport Voter Id Card A photograph should be attached to the DIN application and the documents in proof of identity and address must be attested by a Public Notary or Gazette Officer of the Government or by a practicing professional (such as practising Chartered Accountant, a practising Company Secretary or a practising Cost Accountant or Company Secretary of the company in full time employment of the company, whose director the applicant is proposed to be appointed). B. Residence Proof (Any one) Driving License Passport Time to complete Cost to complete

1 day

INR 100

Doing Business 2012

India

No.

Procedure Voter Id Card Telephone Bill Ration Card Electricity Bill Bank Statement 2) The concerned authority verifies all the documents and, upon approval, issues a permanent DIN. It takes about 3-5 days to issue the permanent DIN. Obtain digital signature certificate on-line To use the new electronic filing system under MCA 21, the applicant must obtain a Class-II Digital Signature Certificate. The digital signature certificate can be obtained from one of six private agencies authorized by MCA 21 such as Tata Consultancy Services. Company directors submit the prescribed application form along with proof of identity and address. Each agency has its own fee structure, ranging from INR 400 to INR 2650. There are total seven Certification Agencies authorised by the Controller of Certification Agencies to issue the Digital Signature Certificates. The details of these Certification Agencies are available on the portal of the Ministry of Corporate Affairs (www.mca.gov.in). Reserve the company name with the Registrar of Companies (ROC) on-line Company name approval must be done electronically. Under e-filing for name approval, the applicant can check the availability of the desired company name on the MCA 21 Web site. The RoC in Mumbai has staff members working full time on name reservations (approximately 3 but more if the demand increases). A maximum of 6 suggested names can be submitted, they are then checked by RoC staff for any similarities with all other names in India.

Time to complete

Cost to complete

1-6 days

INR 400 to INR 2650

3 The MCA receives approximately 50-60 applications a day. After being cleared by the junior officer, the name requests are sent to the senior officer for approval. Once approved, the selected name appears on the website. Applicants need to keep consulting the website to confirm that one of their submitted names was approved. In practice, it takes 2 days for obtaining a clearance of the name if the proposed name is available and conforms to the naming standards established by the Company Act (1 day for submission of the name and 1 day for it to appear on the MCA website). Pay stamp duties online, file all incorporation forms and documents online and obtain the certificate of incorporation

2-3 days

INR 500

3-7 days

INR 20,100

Doing Business 2012

India

No.

Procedure As a result of MCA's desire to further the e-governance's initiatives, with effect from 1st of January 2010 it has been made compulsary to pay all stamp duties on incorporation documents online through the Ministry of Corporate Affairs (MCA) website. As a result of these reforms, the mode of payment of stamp duty through affixation of adhesive stamps on Articles of Association and Memorandum of Association has been replaced by e-payment of applicable stamp duty on Articles and Memorabdum of association through MCA portal. Further, certain forms: Form 1 (a primary form used in the incorporation process), Form 5 & Form 44 will also be stamped electonically through MCA Portal. Further, the reforms also provides that the documents on which estamping has been done, need not to be filed physically and electronic filing of the same would be sufficient. For registration, the following forms are required to be electronically filed on the website of the Ministry of Company Affairs: (a) e-form 1; (b) e-form 18; (c) e-form 32 Along with these documents, scanned copies of the consent of the initial directors, and also of the signed and the Memorandum and Articles of Association, must be attached to Form 1. - The fees for registering a company can be paid online by using a credit card or by payment in cash at certain authorized banks; - The certificate of incorporation is sent automatically to the registered office of the company by registered or speed post. The registration fees paid to the Registrar are scaled according to the companys authorized capital (as stated in its memorandum): - INR 100,000 or less: INR 4,000. If the nominal share capital is over INR 100,000, additional fees based the amount of nominal capital apply to the base registration fee of INR 4,000: - For every INR 10,000 of nominal share capital or part of INR 10,000 after the first INR 100,000, up to INR 500,000: INR 300. - For every INR 10,000 of nominal share capital or part of INR 10,000 after the first INR 500,000, up to INR 5,000,000: INR 200. - For every INR 10,000 of nominal share capital or part of INR 10,000 after the first INR 5,000,000, up to INR 1 10,000,000: INR 100. - For every INR 10,000 of nominal share capital or part of INR 10,000 after the first INR 10,000,000: INR 50. The payment of fees can be made online; the applicant makes the payment through credit cards and the system accepts the documents immediately. Please note that in Mumbai, RoC requests for pre-scrutiny of documents for any correction thereon, before the documents are uploaded, so that once the documents have been uploaded, it can be approved without any further correction. The online filing mechanism requires only one copy of scanned documents to be filed (including stamped MOA, AOA, and POA).

Time to complete

Cost to complete

Doing Business 2012

India

No.

Procedure Schedule of Registrar filing fees for the articles and for the other forms (l, 18, and 32): - INR 200 for a company with authorized share capital of more than INR 100,000 but less than INR 500,000. - INR 300 for a company with nominal share capital of INR 500,000 or more but less than INR 2,500,000. - INR 500 for a company with nominal share capital of INR 2,500,000 or more. According to Article 10 and Article 39 of the Indian Stamp Act (1899), the stamp duty payable on the memorandum and articles of association for company incorporation in Mumbai, Maharashtra, is as follows: - Articles of association: INR 1000/- for every INR 500,000/- of share capital (or part thereof), subject to a maximum of INR 5,000,000. - Memorandum of association: INR 200. - Form-1 (declaration of compliance): INR 100. Make a seal

Time to complete

Cost to complete

Although making a seal is not a legal requirement for the company to be incorporated, companies require a company seal to issue share certificates and other documents. Visit an authorized franchise or agent appointed by National Securities Depository Services Limited (NSDL) or Unit Trust of India (UTI) Investors Services Ltd to obtain a Permanent Account Number (PAN) Under the Income Tax Act, 1961, each person must quote his or her permanent account number (PAN) for tax payment purposes and the tax deduction and collection account number (TAN) for depositing tax deducted at source. The Central Board of Direct Taxes (CBDT) has instructed banks not to accept any form for tax payment (Chalan) without the PAN or TAN, as applicable. The PAN is a 10-digit alphanumeric number issued on a laminated card by an assessing officer of the Income Tax Department. In order to improve PAN related services, the Income Tax department (effective July 2003) outsourced their operations pertaining to allotment of PAN and issue of PAN cards to UTI Investor Services Ltd, which was authorized to set up and manage IT PAN Service Centers in all cities where there is an Income Tax office. The National Securities Depository Limited (NSDL) has also launched PAN operations effective June 2004, setting up TIN Facilitation Centers. The PAN application is made through the above mentioned service centers on Form 49A, with a certified copy of the certificate of registration, issued by the Registrar of Companies, along with proof of company address and personal identity. A fee of INR 94 (plus applicable taxes) applies for processing the PAN application. IT PAN Service Centers or TIN Facilitation Centers will supply PAN

1 day

INR 350

7 days

INR 94 for Fee and INR 5 for Application Form, (if not downloaded)

Doing Business 2012

India

No.

Procedure application forms (Form 49A), assist the applicant in filling up the form, collect filled form and issue acknowledgement slip. After obtaining PAN from the Income Tax department, UTIISL or NSDL as the case may be, will print the PAN card and deliver it to the applicant. The application for PAN can also be made online but the documents still need to be physically dropped off for verification with the authorized agent. For more details (www.incometaxindia.gov.in , www.utiisl.co.in , www.tin-nsdl.com ) * Obtain a tax account bumber for income taxes deducted at source from the Assessing Office in the Mumbai Income Tax Department The tax deduction and collection account number (TAN) is a 10-digit alphanumeric number required by all persons responsible for deducting or collecting tax. The provisions of Section 203A of the Income Tax Act require that all persons who deduct or collect tax at the source must apply for a TAN. The section also makes it mandatory for the TAN to be quoted in all tax-deducted-at-source (TDS) and tax-collected-at-source (TCS) returns, all TDS/TCS payment Chalans, and all TDS/TCS certificates issued. Failure to apply for a TAN or to comply with any of the other provisions of the section is subject to a penalty of INR 10,000/- .

Time to complete

Cost to complete

The application for allotment of a TAN must be filed using Form 49B 7 days, and submitted at any TIN Facilitation Center authorized to receive esimultaneously with TDS returns. Locations of TIN Facilitation Centers are at Procedure 6 www.incometaxindia.gov.in and http://tin.nsdl.com The processing fee for both applications (a new TAN or a change request) is INR 60 (plus applicable taxes). After verification of application, the same is sent to Income Tax Department and upon satisfaction the department issues the TAN to the applicant. The national government levies the income tax. Since outsourcing, any authorized franchise or agent appointed by National Securities Depository Services Limited (NSDL) can accept and process the TAN application. The application for TAN can be made either online TAN can be through the NSDL website www.tin-nsdl.com or offline. However, after the payment of the fee by credit card, the hard copy of the application must beUpon payment of the fee through credit card, the hard copy of the application is required to be physically filed with NSDL. * Register with Office of Inspector, Mumbai Shops and Establishment Act

INR 62

A statement containing the employers and managers name and the establishments name (if any), postal address, and category must be sent to the local shop inspector with the applicable fees. According to Section 7 of the Bombay Shops and Establishments Act,

INR 2,000 (registration fee) + 3 2 days, simultaneous times registration fee with procedure 7 for Trade Refuse Charges (INR 6,000)

Doing Business 2012

India

No.

Procedure 1948, the establishment must be registered as follows: - Under Section 7(4), the employer must register the establishment in the prescribed manner within 30 days of the date on which the establishment commences its work. - Under Section 7(1), the establishment must submit to the local shop inspector Form A and the prescribed fees for registering the establishment. - Under Section 7(2), after the statement in Form A and the prescribed fees are received and the correctness of the statement is satisfactorily audited, the certificate for the registration of the establishment is issued in Form D, according to the provisions of Rule 6 of the Maharashtra Shops and Establishments Rules of 1961. Since the amendments in the Maharashtra Shops & Establishment (Amendment) Rules, 2003 dated 15th December 2003, the Schedule for fees for registration & renewal of registration (as per Rule 5) is as follows: 0 employees: INR 100 1 to 5 employees: NR 300 6 to 10 employees : INR 600 11 to 20 employees: INR 1000 21 to 50 employees : INR 2000 51 to 100 employees : INR 3500 101 or more:- INR 4500 Hence in the given case the registration fees would be INR 2000, as there are 50 employees In addition, an annual fee (three times the registration and renewal fees) is charged as trade refuse charges (TRC), under the Mumbai Municipal Corporation Act, 1888. * Register for VAT online VAT online registration was introduced by the Commissioner of Sales Tax, Maharashtra State, Mumbai, Trade Circular No. 4T of 2009, dated January 23, 2009. According to Notification No. VAT/AMD-1009/ IB/Adm-6, dated 26th August 2009, application for registration of VAT by the founders who are required to obtain registration or those who voluntarily desire to get registration can be, as of 1st October 2009, filed electronically on the website www.mahavat.gov.in. After the completed application form is submitted online, an acknowledgment containing the date and time for attending before the registering authority along with code/designation and address of registering authority is generated. The company should print a copy of the completed e-application and submit it along with the acknowledgement to the registration authority for verification and photo attestation on a given date and time along with relevant documents. If the application is correct and complete in all respect along with relevant documents then the registering authority will generate TIN after verification of the documents. Registration

Time to complete

Cost to complete

INR 500 (Registration 10 days, Fee) + INR 25 (Stamp simultaneous with Duty) for compulsory procedure 8 VAT registration

Doing Business 2012

India

No.

Procedure certificate will be printed and issued to the company on the appointed date. Usually, the appointment date is scheduled in the next 10 days. Other accompanying documentation includes: - Certified true copy of the memorandum and articles of association of the company. - Proof of permanent residential address. At least 2 of the following documents must be submitted: copy of passport, copy of driving license, copy of election photo identity card, copy of property card or latest receipt of property tax of Municipal Corporation, copy of latest paid electricity bill in the name of the applicant. - Proof of place of business (for an owner, the case of Doing Business): Proof of ownership of premises viz. copy of property card or ownership deed or agreement with the builder or any other relevant documents - One recent passport size photograph of the applicant - Copy of Income Tax Assessment Order having PAN or copy of PAN card - Chalan in Form No. 210 (original) showing payment of registration fee at INR 5000/in case of voluntary RC and INR 500/in other cases

Time to complete

Cost to complete

* Register for profession tax According to section 5 of the Profession Tax Act, every employer (not being an officer of the government is liable to pay tax and shall obtain a certificate of registration from the prescribed authority. The company is required to apply in Form I to the registering authority. The registration 2 days, simultaneous authority for Mumbai Area is situated at Vikarikar Bhavan, Mazgaon in with procedure 9 Mumbai. Depending on the nature of the business, the application should be supported with such documents as address proof, details of company registration number under Indian Companies Act (1956), details of head office (if the company is a branch of company registered outside the state), company deed, certificates under any other act, and so forth. * Register with Employees' Provident Fund Organization The Employees Provident Funds & Miscellaneous Provisions Act, 1952 applies to an establishment, employing 20 or more persons and engaged in any of the 183 Industries and Classes of business establishments, throughout India excluding the State of Jammu and Kashmir. The applicant fills in an application and is then allotted a social security number. The Provident Fund registration focuses on delinquent reporting, underreporting, or non-reporting of workforce size. Provident Fund registration is optional if workforce size is not more than 20.

no charge

12 days, simultaneous with procedure 10

no charge

Doing Business 2012

India

No.

Procedure The employer is required to provide necessary information to the concerned regional Provident Fund Organization (EPFO) in prescribed manner for allotment of Establishment Code Number. No separate registration is required for the employees. Nevertheless all eligible employees are required to become members of the Fund and individual account number is allotted by the employer in prescribed manner. As per an internal circular, the code number is to be allotted within 3 days from the date of submission, if the application is complete in all respects. However, in many cases applicants have received the intimation letter with the code number in 12 to 15 days. * Register for medical insurance (ESIC) Registration is the process by which every employer/factory and every employee employed for wages are identified for the purpose of the medical insurance scheme and their individual records are set up for them. As per the Employees' State Insurance (General), Form 01 is the form required to be submitted by Employer for registration. It takes 3 days to a week for the Employer Code Number to be issued. The "intimation letter" containing the Code Number is sent by post to the employer and that takes an additional couple of days.

Time to complete

Cost to complete

The Employees individual insurance is a separate process and occurs after Employers registration. The Employer is responsible for 9 day, simultaneous submitting the required Declaration Form and employees are with procedure 10 responsible for providing correct information to the employer. The employee temporary cards (ESI Cards) are issued on the spot by the local offices in many places. The temporary cards are valid for 13 weeks from the date of appointment of the employees. It takes about 4 to 5 weeks to get a permanent ESI card. In order to insure that all the insured persons receive their identity cards to enable them to receive cash and medical benefit, the identity cards will be delivered to the insured persons directly by the ESI Corporation rather than through the employers. The ESI Act applies to all establishments employing 20 or more persons. The ESI Act provides for sickness benefits, medical relief, maternity benefits for women workers, compensation for fatal and other employment injuries, etc. Every employee who receives wages up to Rs. 10,000 per month is covered by this Act.

Globally, India stands at 181 in the ranking of 183 economies on the ease of dealing with construction permits (figure 3.2). The rankings for comparator economies and the regional average ranking provide other useful information for assessing how easy it is for an entrepreneur in India to legally build a warehouse.

Figure 3.2 How India and comparator economies rank on the ease of dealing with construction permits

Source: Doing Business database.

Doing Business 2012

India

DEALING WITH CONSTRUCTION PERMITS What are the changes over time?
While the most recent Doing Business data reflect how easy (or difficult) it is to deal with construction permits in India today, data over time show which aspects of the process have changedand which have not (table 3.1). That can help identify where the potential for improvement is greatest.

Table 3.1 The ease of dealing with construction permits in India over time By Doing Business report year Indicator Rank Procedures (number) Time (days) Cost (% of income per capita) DB2006 .. 34 227 3,838.7 DB2007 .. 34 227 3,428.2 DB2008 .. 34 227 2,938.7 DB2009 .. 34 227 2,610.0 DB2010 .. 34 227 2,299.8 DB2011 181 34 227 2,058.7 DB2012 181 34 227 1,631.4

Note: n.a. = not applicable (the economy was not included in Doing Business for that year). DB2012 rankings reflect changes to the methodology. For more information on no practice marks, see the data notes for details. Source: Doing Business database.

Doing Business 2012

India

DEALING WITH CONSTRUCTION PERMITS

Equally helpful may be the benchmarks provided by the economies that today have the best performance regionally or globally on the procedures, time or cost required to deal with construction permits (figure 3.3). These economies may provide a model for India on ways to improve the ease of dealing with construction permits. And changes in regional averages can show where India is keeping upand where it is falling behind.

Figure 3.3 Has dealing with construction permits become easier over time? Procedures (number)

Time (days)

Doing Business 2012

India

DEALING WITH CONSTRUCTION PERMITS

Cost (% of income per capita)

Note: The economy with the best performance regionally on each indicator, and the economy with the best performance globally, are included as benchmarks. In some cases 2 or more economies share the top regional or global ranking on an indicator. In cases where no data are displayed above for the economy, this indicates that the economy has received a

no practice mark; see the data notes for details.

Source: Doing Business database.

Doing Business 2012

India

DEALING WITH CONSTRUCTION PERMITS

Smart regulation ensures that standards are met while making compliance easy and accessible to all. Coherent and transparent rules, efficient processes and adequate allocation of resources are especially important in sectors where safety is at stake. Construction is one of them. In an effort to ensure building safety while keeping compliance costs reasonable, governments around the world have worked on consolidating permitting requirements. What construction permitting reforms has Doing Business recorded in India (table 3.2)?

Table 3.2 How has India made dealing with construction permits easieror not? By Doing Business report year DB Year Reform

DB2012

No reform.

DB2011

No reform.

India

No.

Procedure down, BuildCo will have to plant trees to replace them. * Receive inspection from Tree Authority

Time to complete

Cost to complete

Inspectors from the Tree Authority visit the site to check if there are any trees located on the premises. * Obtain NOC from Tree Authority

1 day

no charge

7 * Request and obtain NOC from Storm Water and Drain Department

30 days

INR 4,500

7 days

no charge

* Request and obtain NOC from Sewerage Department 9 * Request and obtain NOC from Electric Department BuildCo has to inform BEST of the project's power requirements along with copy of application submitted for building plan approval. BEST will assess whether an electrical substation up-grade required at this stage. * Request and obtain NOC from Environmental Department 11 * Request and obtain NOC from Traffic & Coordination Department

7 days

INR 77,306

7 days

no charge

7 days

no charge

7 days

no charge

* Request and obtain NOC from CFO 13 All commercial structures require a fire safety clearance. Obtain Commencement Certificate from Building Proposal Office and pay Development Charges On submission of all required NOCs mentioned in the IOD and on compliance of the IOD conditions, the applicant may submit request for the Commencement Certificate. The documents and NOC submitted by the applicants are verified by the staff and the necessary Commencement Certificate is approved. After payment of development charges and other applicable premium the Commencement Certificate is issued within 7 to 15 days. The Cost for the CC is INR 200 per square meter of land + INR 500 per square meter of building area. Request and receive inspection of plinth 15 16 Submit letter stating completion of building works to obtain an Occupancy Certificate and Certificate of Completion

7 days

INR 13,006

10 days

INR 836,100

1 day 1 day

no charge no charge

Doing Business 2012

India

No.

Procedure BuildCo's architect must submit a formal letter stating that construction has been completed according to the standards set forth in the IOD and CC. * Request and obtain completion NOC from Tree Authority

Time to complete

Cost to complete

17 * Request and obtain completion NOC from Storm Water and Drain Department

3 days

no charge

3 days

no charge

* Request and obtain completion NOC from Sewerage Department 19 * Request and obtain completion NOC from Electric Department 20 * Request and obtain completion NOC from Environmental Department

3 days

no charge

3 days

no charge

3 days

no charge

* Request and obtain completion NOC from Traffic & Coordination Department

3 days

no charge

* Request and obtain completion NOC from CFO 23 All commercial structures require fire safety clearance according to fire and safety rules and regulations stipulated in Development Control rule 1991 and national building Code. The fee for low-rise commercial buildings is INR 5 per square meter. Request and receive competition inspection from BMC 24 Obtain Occupancy Certificate 25 The Occupancy Certificate allows BuildCo to occupy the building but is not considered a final document because BuildCo still requires the Certificate of Completion. Obtain Completion Certificate 26 The Completion Certificate is considered to be the ultimate document that BuildCo requires to fully occupy the building and connect to utilities. Apply for permanent water connection 27 * Receive on-site inspection for connection to water by the Water Supply Department An application for water connection is made to the Assistant Engineer 30 days no charge 1 day no charge 3 days INR 70,000

1 day

no charge

1 day

no charge

1 day

no charge

Doing Business 2012

India

No.

Procedure of the Municipal Corporation. The Assistant Engineer of the Municipal Corporation makes the inspection. There are two inspections: one before the water connection is completed, and another after completion. The inspection would not take more than a day. An officer of the water department of the Municipal Corporation inspects the premises and prepares a report on the connection. * Obtain permanent water connection Fees for water connection include: Water connection charges INR 1060 Water meter INR 150 Refundable security deposit towards water charges bills at INR 25 per 1,000 liter + 60% of sewerage charges for the requirement of the building Apply for permanent sewerage connection

Time to complete

Cost to complete

45 days

INR 1,210

BuildCo must visit the ward office and submit a written demand for a sewerage connection. The connection request must be submitted along with a copy of the building plans and the application request made to the Water Department. * Receive on-site inspection for connection to sewerage by Sewerage Department

1 day

no charge

A private contractor hired by BuildCo completes most of the inspections related to the connection, but the ward office will visit the site once to inspect the connection as well. * Obtain permanent sewerage connection

1 day

no charge

32 * Apply for telephone connection 33 An application for the telephone connection is submitted to the utility company along with a security deposit. * Receive on-site inspection and connection to telephone by the utility provider

30 days

INR 50,000

1 day

INR 500

2 days

no charge

* Takes place simultaneously with another procedure. Source: Doing Business database.

Doing Business 2012

India

GETTING ELECTRICITY
Access to reliable and affordable electricity is vital for businesses. To counter weak electricity supply, many firms in developing economies have to rely on self-supply, often at a prohibitively high cost. Whether electricity is reliably available or not, the first step for a customer is always to gain access by obtaining a connection. What do the indicators cover? Doing Business records all procedures required for a local business to obtain a permanent electricity connection and supply for a standardized warehouse, as well as the time and cost to complete them. These procedures include applications and contracts with electricity utilities, clearances from other agencies and the external and final connection works. The ranking on the ease of getting electricity is the simple average of the percentile rankings on its component indicators: procedures, time and cost. To make the data comparable across economies, several assumptions are used. The warehouse: Is located in the economys largest business city, in an area where other warehouses are located. Is not in a special economic zone where the connection would be eligible for subsidization or faster service. Has road access. The connection works involve the crossing of a road or roads but are carried out on public land. Is a new construction being connected to electricity for the first time. Has 2 stories, both above ground, with a total surface of about 1,300.6 square meters (14,000 square feet), and is built on a plot of 929 square meters (10,000 square feet). WHAT THE GETTING ELECTRICITY INDICATORS MEASURE Procedures to obtain an electricity connection (number) Submitting all relevant documents and obtaining all necessary clearances and permits Completing all required notifications and receiving all necessary inspections Obtaining external installation works and possibly purchasing material for these works Concluding any necessary supply contract and obtaining final supply Time required to complete each procedure (calendar days) Is at least 1 calendar day Each procedure starts on a separate day Does not include time spent gathering information Reflects the time spent in practice, with little follow-up and no prior contact with officials Cost required to complete each procedure (% of income per capita) Official costs only, no bribes Excludes value added tax Is 150 meters long. Is to either the low-voltage or the mediumvoltage distribution network and either overhead or underground, whichever is more common in the economy and in the area where the warehouse is located. The length of any connection in the customers private domain is negligible. Involves installing one electricity meter. The monthly electricity consumption will be 0.07 gigawatt-hour (GWh). The internal electrical wiring has been completed.

The electricity connection: Is a 3-phase, 4-wire Y, 140-kilovolt-ampere (kVA) (subscribed capacity) connection.

Doing Business 2012

India

GETTING ELECTRICITY Where does the economy stand today?

What does it take to obtain a new electricity connection in India? According to data collected by Doing Business, getting electricity there requires 7 procedures, takes 67 days and costs 216.2% of income per capita (figure 4.1).

Figure 4.1 What it takes to obtain an electricity connection in India

Note: For details on the procedures reflected here, see the summary at the end of this chapter. Source: Doing Business database.

Doing Business 2012

India

GETTING ELECTRICITY
Globally, India stands at 98 in the ranking of 183 economies on the ease of getting electricity (figure 4.2). The rankings for comparator economies and the regional average ranking provide another perspective in assessing how easy it is for an entrepreneur in India to connect a warehouse to electricity.

Figure 4.2 How India and comparator economies rank on the ease of getting electricity

Source: Doing Business database.

Doing Business 2012

India

GETTING ELECTRICITY
Even more helpful than rankings for other economies may be the indicators underlying those rankings (table 4.1). If obtaining a new electricity connection requires fewer procedures, less time or less cost in other economies, the practices of their utilities may provide a model for India on ways to improve the ease of getting electricity. Regional and global averages on these indicators may provide useful benchmarks.

Table 4.1 The ease of getting electricity in India and comparator economies

Indicator

Rank Procedures (number) Time (days) Cost (% of income per capita)

Source: Doing Business database.

98 7 67 216.2

51 6 34 130.3

115 5 145 640.9

161 7 108 1379.0

26 3 117 0.0

142 7 114 395.5

183 10 281 1852.4

127 6 145

111

1,775.9 1,942.3

Global average

Russian Federation

South Asia average

Indonesia

Mexico

Japan

China

Brazil

India

.. 5

Doing Business 2012

India

GETTING ELECTRICITY What are the details?

The indicators reported here for India are based on a set of specific proceduresthe steps that an entrepreneur must complete to get a warehouse connected to electricity by the local distribution utilityidentified by Doing Business. Data are collected from the distribution utility, then completed and verified by electricity regulatory agencies and independent professionals such as electrical engineers, electrical contractors and construction companies. The electricity distribution utility surveyed is the one serving the area (or areas) in which warehouses are located. If there is a choice of distribution utilities, the one serving the largest number of customers is selected. OBTAINING AN ELECTRICITY CONNECTION City:

Mumbai

Bhrihan Mumbai Electricity & Transport Undertaking The procedures are those that apply to a warehouse and electricity connection matching the standard assumptions used by Doing Business in collecting the data (see the section in this chapter on what the indicators cover). The procedures, along with the associated time and cost, are summarized below. Name of Utility:

Summary of procedures for getting electricity in Indiaand the time and cost
No. Procedure Submit application to Brihan Mumbai Electricity Supply and Transport Undertaking (BEST) and await site inspection An application for supply, addition or reduction in supply of electrical energy, shifting of service, extension of service, change of name or restoration of supply shall be made to BEST, copies of which are obtainable from the relevant ward offices or relevant consumer center of the Undertaking as well as downloadable from BESTs website. The application duly filled in and signed by the owner or occupier of the premises in respect of which the supply or additional supply is required shall be accepted after preliminary scrutiny at the relevant Ward Office on payment of processing fee in accordance with Annex 1 of Schedule of Charges approved by the Commission. Documents needed to be submitted completed application form; proof of occupancy; details of load requirement; purpose for which electric connection is required. Site inspection includes confirmation of premises, identification of location of terminating service cable, and position of meter cabin. Receive external site inspection from BEST and await estimate Appointment can be made over the phone giving reference of application no; electrical contractor should be licensed, registration with BEST of electrician not necessary. The Authorized Representative of the Undertaking on receipt of the application, with prior intimation, shall inspect the premises to confirm its eligibility and study the technical requirements of giving supply to the consumer and fix the position of main cut outs or circuit breakers and meters and sanction the load for the premises in consultation with the consumer and/or his Licensed Electrical contractor. Subsequently, BEST shall intimate the applicant of Time to complete Cost to complete

7 calendar days

INR 50.0

8 calendar days

no charge

Doing Business 2012

India

No.

Procedure the details of any works that are required to be undertaken, the charges to be borne by the applicant thereon in accordance with Annex 2 of Schedule of Charges approved by the Maharashtra Electricity Regulatory Commission. Submit electrical contractor's wiring and test report and estimated amount to BEST The connection cost is standard for connections between 100 KW - 150 KW. As required by Rule 45 of the Indian Electricity Rules, 1956, no electrical installation work (including additions, alterations, repairs and adjustment to existing installation) except such replacements of lamps, fans, fuses, switches and other component parts of the installation, as in no way alters the capacity and character of the installation, shall be carried out upon the premises on behalf of any consumer or owner for the purposes of supply of energy to such consumer or owner, except by an Electrical Contractor Licensed by Government in this behalf and under the direct supervision of a person holding a certificate of competency, issued by Government. As soon as the consumer's installation is completed in all respects and tested by the consumers contractor, the consumer must submit to BEST a wiring contractor's work Terms & Conditions of Supply completion and test report. Electrical contractor conducts external connection works Consumers supplied with low and medium voltage electrical energy shall provide and maintain an enclosure with a dry masonry wall not less than 250 millimeters thick or such other structure as may be approved by the Utility on which the utility's meter boards and service cutouts shall be supported and shall provide and maintain adequate protection for the meter board from ingress of water, tampering and mechanical damage. The consumer's mains shall in all cases, be brought to the Utility's point of supply. BEST inspects wiring and installs meter Upon receipt of the test report, the Authorized representative of the distribution company, with prior intimation, shall inspect the equipments / apparatus / wiring to confirm compliance as per the test report given. Upon successful verification of the test report the distribution company shall proceed with the fixing of meters and coupling them with the consumer's installation preparatory to the inspection and testing of the installation and connection of supply. The consumer's wiring contractor should ensure that each installation is properly identified by a tag or otherwise, at the point of supply. BEST inspects and tests installation After the meters have been coupled to the installation the undertaking will notify the consumer's Licensed Electrical Contractor the time and the day when the undertaking's representative proposes to inspect and test the installation. It will then be the duty of the Licensed Electrical Contractor to arrange for his supervisor to be present, at the inspection to give the Undertaking or its representative any information or

Time to complete

Cost to complete

1 calendar day

INR 45,000.0

7 calendar days

INR 8,000.0

7 calendar days

no charge

7 calendar days

no charge

Doing Business 2012

India

No.

Procedure assistance required concerning the installation. Submit meter security deposit, receive external connection and electricity starts flowing Security deposit - A consumer with a consumption of electricity of not less than one lac (1,00,000) kilo-watt hours per month and with no undisputed sums payable to the Undertaking may, at the option of such consumer, deposit security, by way of cash (including cheque and demand draft), irrevocable letter of credit or unconditional bank guarantee issued by a scheduled commercial bank. In case a consumer who has deposited security subsequently opts to receive supply through a prepaid meter, the amount of such security deposit shall, after deduction of all monies owing from such consumer, be either refunded to such consumer or treated as a part of the value of the prepaid credit to the account of such consumer, from which the value of his future consumption is to be deducted. The Undertaking shall apply any security so deposited, towards satisfaction of any amount which is due or owing from the consumer.

Time to complete

Cost to complete

30 calendar days

INR 91,424.8

* Takes place simultaneously with another procedure. Source: Doing Business database.

Doing Business 2012

India

REGISTERING PROPERTY
Ensuring formal property rights is fundamental. Effective administration of land is part of that. If formal property transfer is too costly or complicated, formal titles might go informal again. And where property is informal or poorly administered, it has little chance of being accepted as collateral for loanslimiting access to finance. What do the indicators cover? Doing Business records the full sequence of procedures necessary for a business to purchase property from another business and transfer the property title to the buyers name. The transaction is considered complete when it is opposable to third parties and when the buyer can use the property, use it as collateral for a bank loan or resell it. The ranking on the ease of registering property is the simple average of the percentile rankings on its component indicators: procedures, time and cost. To make the data comparable across economies, several assumptions about the parties to the transaction, the property and the procedures are used. The parties (buyer and seller): Are limited liability companies, 100% domestically and privately owned. Are located in the periurban area of the economys largest business city. Have 50 employees each, all of whom are nationals. Perform general commercial activities. WHAT THE REGISTERING PROPERTY INDICATORS MEASURE Procedures to legally transfer title on immovable property (number) Preregistration (for example, checking for liens, notarizing sales agreement, paying property transfer taxes) Registration in the economys largest business city Postregistration (for example, filing title with the municipality) Time required to complete each procedure (calendar days) Does not include time spent gathering information Each procedure starts on a separate day Procedure completed once final document is received No prior contact with officials Cost required to complete each procedure (% of property value) Official costs only, no bribes No value added or capital gains taxes included

Note: The economy with the best performance regionally on each indicator, and the economy with the best performance globally, are included as benchmarks. In some cases 2 or more economies share the top regional or global ranking on an indicator. In cases where no data are displayed above for the economy, this indicates that the economy has received a

no practice mark; see the data notes for details.

Source: Doing Business database.

Doing Business 2012

India

REGISTERING PROPERTY
Economies worldwide have been making it easier for entrepreneurs to register and transfer propertysuch as by computerizing land registries, introducing time limits for procedures and setting low fixed fees. Many have cut the time required substantiallyenabling buyers to use or mortgage their property earlier. What property registration reforms has Doing Business recorded in India (table 5.2)?

Table 5.2 How has India made registering property easieror not? By Doing Business report year DB Year DB2012 DB2011 DB2010 DB2009 Reform No reform. No reform. No reform. No reform.

Note: For information on reforms in earlier years (back to DB2005), see the Doing Business reports for these years, available at http://www.doingbusiness.org. Source: Doing Business database.

Doing Business 2012

India

REGISTERING PROPERTY What are the details?

The indicators reported here are based on a set of specific proceduresthe steps that a buyer and seller must complete to transfer the property to the buyers nameidentified by Doing Business through information collected from local property lawyers, notaries and property registries. These procedures are those that apply to a transaction matching the standard assumptions used by Doing Business in collecting the data (see the section in this chapter on what the indicators cover). STANDARD PROPERTY TRANSFER City: Property Value: Mumbai 3,341,708.9

The procedures, along with the associated time and cost, are summarized below.

Summary of procedures for registering property in Indiaand the time and cost
No. Procedure Check for encumbrances at the office of Sub-Registrar of Assurance The purchaser should conduct a search of the property in the Registry and the Revenue Office, noting the location details of the property and the time period to be checked. While investigating the title it should be verified (1) that the legal ownership document is in the name of the owner, issued by the Revenue Record Department under the seal of the Tahsildar, (2) that on the date of purchase the title of the owner for the preceding 30 years (preferably) shows no mortgage or other encumbrance as still existing on the date of purchase, (3) the property is transferable and heritable, (4) the transferor is competent and/or authorized to transfer the property, (5) the transferee is qualified to be a transferee, (6) the object or consideration for the transfer is lawful, (7) the transfer has been made and completed in the manner prescribed by law, (8) the property being sold is free of restrictions for sale under the Urban Land (Ceiling & Regulation) Act, 1976 and a Clearance Certificate for the property has been issued by the U.L.C. (Urban Land Ceiling) Authorities. Also, all papers with regard to payment of taxes, the electricity bills and water bills need to be checked. If the seller is a Company incorporated under the provisions of the Companies Act, 1956 then it is prudent to take search in the office of the Registrar of Companies to verify whether there is any charge on the property registered under the provisions of Section 125 of the Companies Act, 1956. Preparation of the final sale deed by the purchasers lawyer Time to complete Cost to complete

5 days

Rs. 10,000

7 days

INR 22,000 to INR

Doing Business 2012

India

No.

Procedure The lawyer prepares the final sale deed and then engrosses the document on green paper leaving the date and place blank then this document is then submitted for stamping. The fee for the lawyer is around 1% of the property value. Payment of Stamp Duty on the final Sale Deed through franking at the designated bank. Deposits the said fees in the designated bank. The designated bank issues a receipt and marks the first page of the printed sale deed with the stamp duty received. This printed sale deed with stamp duty details will then be executed. The True Market Value is determined as per the provision of the Bombay Stamp (Determination of True market value of the property ) Rules, 1995. Execute final sale deed and submit documents to the local office of the Sub-Registrar of Assurances The execution of the sale deed in front of the 2 witnesses is commonly done at the same time and place where the buyer submits documents to the Sub-Registrar. The documents are submitted to the office of the Sub Registrar of Assurances within whose jurisdiction the property is located. The authorized signatories of the seller and purchaser are required to be present along with two witnesses. Once the document is registered, a distinct document number is assigned to that document. The record of registration is kept in the office of sub registrar of assurance. The documents are submitted to the Reader of the Sub-Registrar of Assurances for scrutiny. After scrutiny, the Reader indicates the registration fee required, which is 1% of the transaction value or Rs. 30,000/- whichever is less on the document itself. The due registration fee is to be deposited with the cashier against a receipt. After depositing the fees, the documents are presented before the Sub-Registrar in accordance with Section 32 of the Registration Act, 1908. Normally, the Seller hands over the peaceful vacant and physical possession of the property to the buyer simultaneous to the deed being presented for registration. Upon payment of the required registration fees and computer service charges in cash, as per the receipt, the document is returned within 30 minutes of getting the receipt. The documentation shall include: 1. Document required to be registered (in duplicate) 2. Two passport-size photographs of the authorized signatories of both parties. 3. Photo identification of each party and witnesses i.e. voters' identity card, passport, identity card issued by Govt. of India, Semi Govt. and Autonomous bodies or identification by a Gazette Officer. 4. Certified true copies of certificate of incorporation of both seller and purchaser. 5. Copy of the latest property register card (to be obtained from the City Survey Department) to indicate that the property does not belong to the

Time to complete

Cost to complete 25,000

1 day

5% of property value

1 day

1% of market value of the property (Maximum INR 30,000) + INR 20 per page of final sale deed for scanning charges (paid in cash)

Doing Business 2012

India

No.

Procedure government 6. Copy of the Municipal Tax bill to indicate the year in which the building was constructed Apply to the Land & Survey Office for mutation of the tile of the property After receipt of the registered title deed, the purchaser applies to the Municipal Authority seeking mutation of the title of the property in its favour. The authorised signatory has to submit the duly signed application along with the affidavit, indemnity bond, and a certified/notarised copy of the registered title deed. After the assessment of the request for mutation, the Land & Survey Office decides the value for levying tax on property and then issues a letter of mutation in favour of the purchaser. Cost includes: application fee is INR 100; indemnity bond on INR 100 stamp paper, obtain an affidavit at INR 50 and notarize the sale deed for INR 50.

Time to complete

Cost to complete

30 days

INR 300

* Takes place simultaneously with another procedure. Source: Doing Business database.

Doing Business 2012

India

GETTING CREDIT
Two types of frameworks can facilitate access to credit and improve its allocation: credit information systems and the legal rights of borrowers and lenders in collateral and bankruptcy laws. Credit information systems enable lenders to view a potential borrowers financial history (positive or negative)valuable information to consider when assessing risk. And they permit borrowers to establish a good credit history that will allow easier access to credit. Sound collateral laws enable businesses to use their assets, especially movable property, as security to generate capitalwhile strong creditors rights have been associated with higher ratios of private sector credit to GDP. What do the indicators cover? Doing Business assesses the sharing of credit information and the legal rights of borrowers and lenders with respect to secured transactions through 2 sets of indicators. The depth of credit information index measures rules and practices affecting the coverage, scope and accessibility of credit information available through a public credit registry or a private credit bureau. The strength of legal rights index measures the degree to which collateral and bankruptcy laws protect the rights of borrowers and lenders and thus facilitate lending. Doing Business uses case scenarios to determine the scope of the secured transactions system, involving a secured borrower and a secured lender and examining legal restrictions on the use of movable collateral. These scenarios assume that the borrower: Is a private, limited liability company. Has its headquarters and only base of operations in the largest business city. WHAT THE GETTING CREDIT INDICATORS MEASURE Strength of legal rights index (010) Protection of rights of borrowers and lenders through collateral laws Protection of secured creditors rights through bankruptcy laws Depth of credit information index (06) Scope and accessibility of credit information distributed by public credit registries and private credit bureaus Public credit registry coverage (% of adults) Number of individuals and firms listed in public credit registry as percentage of adult population Private credit bureau coverage (% of adults) Number of individuals and firms listed in largest private credit bureau as percentage of adult population

Has 100 employees. Is 100% domestically owned, as is the lender.

The ranking on the ease of getting credit is based on the percentile rankings on its component indicators: the depth of credit information index (weighted at 37.5%) and the strength of legal rights index (weighted at 62.5%).

Doing Business 2012

India

GETTING CREDIT Where does the economy stand today?

How well do the credit information system and collateral and bankruptcy laws in India facilitate access to credit? The economy has a score of 4 on the depth of credit information index and a score of 8 on the strength of legal rights index (see the summary of scoring at the end of this chapter for details). Higher scores indicate more credit information and stronger legal rights for borrowers and lenders. Globally, India stands at 40 in the ranking of 183 economies on the ease of getting credit (figure 6.1). The rankings for comparator economies and the regional average ranking provide other useful information for assessing how well regulations and institutions in India support lending and borrowing.

Figure 6.1 How India and comparator economies rank on the ease of getting credit

Source: Doing Business database.

Doing Business 2012

India

GETTING CREDIT What are the changes over time?

While the most recent Doing Business data reflect how well the credit information system and collateral and bankruptcy laws in India support lending and borrowing today, data over time can help show where Table 6.1 The ease of getting credit in India over time By Doing Business report year Indicator Rank Strength of legal rights index (0-10) Depth of credit information index (0-6) Public registry coverage (% of adults) Private bureau coverage (% of adults) DB2005 .. 6 0 0.0 0.0 DB2006 DB2007 DB2008 DB2009 .. 6 2 0.0 1.7 .. 7 3 0.0 6.1 .. 8 4 0.0 10.8 .. 8 4 0.0 10.5 DB2010 .. 8 4 0.0 10.2 DB2011 37 8 4 0.0 10.0 DB2012 40 8 4 0.0 15.1 institutions and regulations have been strengthened and where they have not (table 6.1). That can help identify where the potential for improvement is greatest.

Note: n.a. = not applicable (the economy was not included in Doing Business for that year). DB2012 rankings reflect changes to the methodology. Source: Doing Business database.

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GETTING CREDIT
One way to put an economys getting credit indicators into context is to see where the economy stands in the distribution of scores across other economies. Figure 6.2 highlights the score on the strength of legal rights index for India in 2011 and shows the number of other economies having the same score in 2011. Figure 6.3 shows the same thing for the depth of credit information index.

Figure 6.2 Have legal rights for borrowers and lenders become stronger?
Number of economies with each score on strength of legal rights index (010), 2011

Figure 6.3 Have the coverage and accessibility of credit information grown?
Number of economies with each score on depth of credit information index (06), 2011

Source: Doing Business database.

Doing Business 2012

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GETTING CREDIT
When economies strengthen the legal rights of lenders and borrowers under collateral and bankruptcy laws, and increase the scope, coverage and accessibility of credit information, they can increase entrepreneurs access to credit. What credit reforms has Doing Business recorded in India (table 6.2)?

Table 6.2 How has India made getting credit easieror not? By Doing Business report year DB Year DB2012 DB2011 DB2010 DB2009 Reform No reform. No reform. No reform. No reform.

Note: For information on reforms in earlier years (back to DB2005), see the Doing Business reports for these years, available at http://www.doingbusiness.org. Source: Doing Business database.

Doing Business 2012

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GETTING CREDIT What are the details?

The getting credit indicators reported here for India are based on detailed information collected in that economy. The data on credit information sharing are collected through a survey of a public credit registry or private credit bureau (if one exists). To construct the depth of credit information index, a score of 1 is assigned for each of 6 features of the public credit registry or private credit bureau (see summary of scoring below). The data on the legal rights of borrowers and lenders are gathered through a survey of financial lawyers and verified through analysis of laws and regulations as well as public sources of information on collateral and bankruptcy laws. For the strength of legal rights index, a score of 1 is assigned for each of 8 aspects related to legal rights in collateral law and 2 aspects in bankruptcy law.

Summary of scoring for the getting credit indicators in India

Indicator Strength of legal rights index (0-10) Depth of credit information index (0-6) Public registry coverage (% of adults) Private bureau coverage (% of adults)

India 8 4 0.0 15.1

South Asia 6 3 1.7 5.8

OECD high income 7 5 9.5 63.9

Strength of legal rights index (010) Can any business use movable assets as collateral while keeping possession of the assets; and any financial institution accept such assets as collateral ? Does the law allow businesses to grant a non possessory security right in a single category of movable assets, without requiring a specific description of collateral? Does the law allow businesses to grant a non possessory security right in substantially all of its assets, without requiring a specific description of collateral? May a security right extend to future or after-acquired assets, and may it extend automatically to the products, proceeds or replacements of the original assets ? Is a general description of debts and obligations permitted in collateral agreements; can all types of debts and obligations be secured between parties; and can the collateral agreement include a maximum amount for which the assets are encumbered? Is a collateral registry in operation, that is unified geographically and by asset type, with an electronic database indexed by debtor's names? Are secured creditors paid first (i.e. before general tax claims and employee claims) when a debtor defaults outside an insolvency procedure?

Index score: 8 Yes Yes Yes Yes

Yes

Yes No

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Strength of legal rights index (010) Are secured creditors paid first (i.e. before general tax claims and employee claims) when a business is liquidated? Are secured creditors either not subject to an automatic stay or moratorium on enforcement procedures when a debtor enters a court-supervised reorganization procedure, or the law provides secured creditors with grounds for relief from an automatic stay or Does the law allow parties to agree in a collateral agreement that the lender may enforce its security right out of court, at the time a security interest is created?

Index score: 8 No

Yes

India

PROTECTING INVESTORS
But the overall ranking on the strength of investor protection index tells only part of the story. Economies may offer strong protections in some areas but not others. So the scores recorded over time for India on the extent of disclosure, extent of director liability and Figure 7.2 Have investor protections become stronger? Strength of investor protection index (0-10) ease of shareholder suits indices may also be revealing (figure 7.2). Equally interesting may be the changes over time in the regional average scores for those indices.

Extent of disclosure index (0-10)

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PROTECTING INVESTORS
Extent of director liability index (0-10)

Ease of shareholder suits index (0-10)

Note: The higher the score, the stronger the investor protections. The economy with the best performance regionally on each indicator, and the economy with the best performance globally, are included as benchmarks. In some cases 2 or more economies share the top regional or global ranking on an indicator. Source: Doing Business database.

Doing Business 2012

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PROTECTING INVESTORS
Economies with the strongest protections of minority investors from self-dealing require more disclosure and define clear duties for directors. They also have well-functioning courts and up-to-date procedural rules that give minority investors the means to prove their case and obtain a judgment within a reasonable time. So reforms to strengthen investor protections may move ahead on different frontssuch as through new or amended company laws or civil procedure rules. What investor protection reforms has Doing Business recorded in India (table 7.2)?

Table 7.2 How has India strengthened investor protectionsor not? By Doing Business report year DB Year DB2012 DB2011 DB2010 DB2009 Reform No reform. No reform. No reform. No reform.

Note: For information on reforms in earlier years (back to DB2006), see the Doing Business reports for these years, available at http://www.doingbusiness.org. Source: Doing Business database.

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PROTECTING INVESTORS What are the details?

The protecting investors indicators reported here for India are based on detailed information collected through a survey of corporate and securities lawyers and are based on securities regulations, company laws and court rules of evidence. To construct the extent of disclosure, extent of director liability and ease of shareholder suits indices, a score is assigned for each of a range of conditions relating to disclosure, director liability and shareholder suits in a standard case study transaction (see the notes at the end of this chapter). The summary below shows the details underlying the scores for India.

Summary of scoring for the protecting investors indicators in India Indicator Extent of disclosure index (0-10) Extent of director liability index (0-10) Ease of shareholder suits index (0-10) Strength of investor protection index (0-10) India 7 4 7 6.0 South Asia 5 4 6 5.0 OECD high income 6 5 7 6.0

Score Extent of disclosure index (0-10) What corporate body provides legally sufficient approval for the transaction? Whether disclosure of the conflict of interest by Mr. James to the board of directors is required? Whether immediate disclosure of the transaction to the public and/or shareholders is required? Whether disclosure of the transaction in published periodic filings (annual reports) is required? Whether an external body must review the terms of the transaction before it takes place? Extent of director liability index (0-10) Whether shareholders can sue directly or derivatively for the damage that the Buyer-Seller transaction causes to the company? Whether shareholders can hold Mr. James liable for the damage that the Buyer-Seller transaction causes to the company? Whether shareholders can hold members of the approving body liable for the damage that the Buyer-Seller transaction causes to the company? Whether a court can void the transaction upon a successful claim by a shareholder plaintiff? 7 2 2 0 2 1 4 1 0 2 1

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Score Whether Mr. James pays damages for the harm caused to the company upon a successful claim by the shareholder plaintiff? Whether Mr. James repays profits made from the transaction upon a successful claim by the shareholder plaintiff? Whether fines and imprisonment can be applied against Mr. James? Ease of shareholder suits index (0-10) Whether shareholders owning 10% or less of Buyer's shares can inspect transaction documents before filing suit? Whether shareholders owning 10% or less of Buyer's shares can request an inspector to investigate the transaction? Whether the plaintiff can obtain any documents from the defendant and witnesses during trial? Whether the plaintiff can request categories of documents from the defendant without identifying specific ones? Whether the plaintiff can directly question the defendant and witnesses during trial? Whether the level of proof required for civil suits is lower than that of criminal cases? Strength of investor protection index (0-10)
Source: Doing Business database.

0 0 0 7 0 1 4 0 2 0 6.0

Notes: Extent of disclosure index (010) Scoring for the extent of disclosure index is based on 5 components: Which corporate body can provide legally sufficient approval for the transaction 0 = CEO or managing director alone; 1 = shareholders or board of directors vote and Mr. James can vote; 2 = board of directors votes and Mr. James cannot vote; 3 = shareholders vote and Mr. James cannot vote. Whether disclosure of the conflict of interest by Mr. James to the board of directors is required 0 = no disclosure; 1 = disclosure of the existence of a conflict without any specifics; 2 = full disclosure of all material facts. Whether immediate disclosure of the transaction to the public, the regulator or the shareholders is required 0 = no disclosure; 1 = disclosure on the transaction only; 2 = disclosure on the transaction and Mr. Jamess conflict of interest. Whether disclosure of the transaction in the annual report is required 0 = no disclosure; 1 = disclosure on the transaction only; 2 = disclosure on the transaction and Mr. Jamess conflict of interest.

Doing Business 2012

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Doing Business 2012

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PAYING TAXES What are the changes over time?

While the most recent Doing Business data reflect how easy (or difficult) it is to comply with tax rules in India today, data over time show which aspects of the Table 8.1 The ease of paying taxes in India over time By Doing Business report year Indicator Rank Payments (number per year) Time (hours per year) Total tax rate (% profit) DB2006 .. 55 264 65.5 DB2007 .. 58 264 72.8 DB2008 .. 59 271 71.5 DB2009 .. 59 271 69.0 DB2010 .. 59 271 64.7 DB2011 165 56 258 63.3 DB2012 147 33 254 61.8 process have changed and which have not (table 8.1). That can help identify where the potential for easing tax compliance is greatest.

Note: n.a. = not applicable (the economy was not included in Doing Business for that year). DB2012 rankings reflect changes to the methodology. For all economies with a total tax rate below the threshold of 32.5% applied in DB2012, the total tax rate is set at 32.5% for the purpose of calculating the rank on the ease of paying taxes. Source: Doing Business database.

DB2011 DB2010 DB2009

Note: For information on reforms in earlier years (back to DB2006), see the Doing Business reports for these years, available at http://www.doingbusiness.org. Source: Doing Business database.

Doing Business 2012

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PAYING TAXES What are the details?

The indicators reported here for India are based on a standard set of taxes and contributions that would be paid by the case study company used by Doing Business in collecting the data (see the section in this chapter on what the indicators cover). Tax practitioners are asked to review standard financial statements as well as a standard list of transactions that the company Summary of tax rates and administrative burden in India Indicator Payments (number per year) Time (hours per year) Profit tax (%) Labor tax and contributions (%) Other taxes (%) Total tax rate (% profit) India 33 254 24.7 18.2 19.0 61.8 South Asia 28 281 18.6 7.7 18.2 44.4 OECD high income 13 186 15.4 24.0 3.2 42.7 completed during the year. Respondents are asked how much in taxes and mandatory contributions the business must pay and what the process is for doing so. The taxes and contributions paid are listed in the summary below, along with the associated number of payments, time and tax rate.

Tax or mandatory contribution Corporate income tax Central Sales Tax Social security contributions Employee's state insurance contribution Dividend tax

Payments (number) 1 1 12 12

Notes on payments
online filing online filing

Time (hours) 45 113 96 0

Total tax Notes on Statutory Tax base rate (% of total tax tax rate profit) rate 30.00% 2% 12% 4.75%
taxable profits purchase price gross salaries gross salaries dividend distribution s assessed value

20.8 14.1 13.5 4.6

16.99%

3.9

Property tax

10%

3.3

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Tax or mandatory contribution

Payments (number)

Notes on payments

Time (hours)

Total tax Notes on Statutory Tax base rate (% of total tax tax rate profit) rate INR 2.75/per liter (CENVAT) from 1.1.2010 to 28.02.2010 fuel and INR consumptio 3.75 per n liter from 1.3.2010 to 31.12.2010 + INR 2 per liter + 26% VAT 10.30%
insurance premium

Fuel tax

1.2

Tax on insurance contracts Vehicle tax (pollution tax) State VAT CENVAT (Excise Duty) Tax on interest

1 1 1 1 0
online filing online filing withheld

0 0 0 0 0

0.2 0 0 0 0
not included included in other taxes included in other taxes included in other taxes

fixed fee per vehicle (INR 100) in use 12.5% 10.3% 10.00%
value added value added interest income on all federal taxes all federal taxes including the surcharge all federal taxes including the surcharge

Income surcharge

paid jointly

7.5%

Education cess

paid jointly

2.0%

included in other taxes

Secondary & Higher education cess

paid jointly

1.0%

included in other taxes

Totals

254

61.8

Doing Business 2012

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TRADING ACROSS BORDERS

India

TRADING ACROSS BORDERS What are the details?

The indicators reported here for India are based on a set of specific procedural requirements for trading a standard shipment of goods by ocean transport (see the section in this chapter on what the indicators cover). Information on the procedures as well as the required documents and the time and cost to complete each procedure is collected from local freight forwarders, shipping lines, customs brokers, port officials and banks. The procedural requirements, and the associated time and cost, for exporting and importing a standard shipment of goods are listed in the summary below, along with the required documents.

Summary of procedures and documents for trading across borders in India

Indicator Documents to export (number) Time to export (days) Cost to export (US$ per container) Documents to import (number) Time to import (days) Cost to import (US$ per container)

India 8 16 1095 9 20 1070

South Asia 8 32 1,590 9 33 1,768

OECD high income 4 10 1,032 5 11 1,085

Procedures to export Documents preparation Customs clearance and technical control Ports and terminal handling Inland transportation and handling Totals

Time (days) 8 2 3 3 16

Cost (US$) 415 130 200 350 1095

Procedures to import Documents preparation Customs clearance and technical control Ports and terminal handling Inland transportation and handling Totals

Doing Business 2012

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ENFORCING CONTRACTS What are the changes over time?

While the most recent Doing Business data reflect how easy (or difficult) it is to enforce a contract in India today, data on the underlying indicators over time help identify which areas have changed and where the potential for improvement is greatest (table 10.1).

Table 10.1 The ease of enforcing contracts in India over time By Doing Business report year Indicator Rank Time (days) Cost (% of claim) Procedures (number) DB2004 DB2005 DB2006 DB2007 DB2008 DB2009 DB2010 DB2011 DB2012 .. 1,420 39.6 46 .. 1,420 39.6 46 .. 1,420 39.6 46 .. 1,420 39.6 46 .. 1,420 39.6 46 .. 1,420 39.6 46 .. 1,420 39.6 46 182 1,420 39.6 46 182 1,420 39.6 46

Note: n.a. = not applicable (the economy was not included in Doing Business for that year). DB2012 rankings reflect changes to the methodology. Source: Doing Business database.

Doing Business 2012

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ENFORCING CONTRACTS
Equally helpful may be the benchmarks provided by the economies that today have the best performance regionally or globally on the number of steps, time or cost required to enforce a contract through the courts (figure 10.2). These economies may provide a model for India on ways to improve the efficiency of contract enforcement. And changes in regional averages can show where India is keeping upand where it is falling behind.

Figure 10.2 Has enforcing contracts become easier over time? Procedures (number)

South Asia 1,074.75

OECD high income 518.03

27.24

19.71

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RESOLVING INSOLVENCY
Equally helpful may be the benchmarks provided by the economies that today have the best performance regionally or globally on the time or cost of insolvency proceedings or on the recovery rate (figure 11.2). These economies may provide a model for India on ways to improve the efficiency of insolvency proceedings. And changes in regional averages can show where India is keeping upand where it is falling behind.

Figure 11.2 Has resolving insolvency become easier over time? Time (years)

Cost (% of estate)

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RESOLVING INSOLVENCY
Recovery rate (cents on the dollar)

Note: The economy with the best performance regionally on each indicator, and the economy with the best performance globally, are included as benchmarks. In some cases 2 or more economies share the top regional or global ranking on an indicator. In cases where no data are displayed above for the economy, this indicates that the economy has received a

no practice mark; see the data notes for details.

Source: Doing Business database.

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RESOLVING INSOLVENCY
A well-balanced bankruptcy system distinguishes companies that are financially distressed but economically viable from inefficient companies that should be liquidated. But in some insolvency systems even viable businesses are liquidated. This is starting to change. Many recent reforms of bankruptcy laws have been aimed at helping more of the viable businesses survive. What insolvency reforms has Doing Business recorded in India (table 11.2)?

Table 11.2 How has India made resolving insolvency easieror not? By Doing Business report year DB Year DB2012 DB2011 DB2010 DB2009 Reform No reform. No reform. Procedures under the 2002 Securitization Act have become more effective, easing the process and reducing the time required to close a business. No reform.

Note: For information on reforms in earlier years (back to DB2005), see the Doing Business reports for these years, available at http://www.doingbusiness.org. Source: Doing Business database.

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DATA NOTES
The indicators presented and analyzed in Doing Business measure business regulation and the protection of property rightsand their effect on businesses, especially small and medium-size domestic firms. First, the indicators document the complexity of regulation, such as the number of procedures to start a business or to register and transfer commercial property. Second, they gauge the time and cost of achieving a regulatory goal or complying with regulation, such as the time and cost to enforce a contract, go through bankruptcy or trade across borders. Third, they measure the extent of legal protections of property, for example, the protections of investors against looting by company directors or the range of assets that can be used as collateral according to secured transactions laws. Fourth, a set of indicators documents the tax burden on businesses. Finally, a set of data covers different aspects of employment regulation. The data for all sets of indicators in Doing Business 3 2012 are for June 2011. ECONOMY CHARACTERISTICS

Gross national income (GNI) per capita Doing Business 2012 reports 2010 income per capita as published in the World Banks World Development Indicators 2011. Income is calculated using the Atlas method (current US$). For cost indicators expressed as a percentage of income per capita, 2010 GNI in U.S. dollars is used as the denominator. Data were not available from the World Bank for Afghanistan; Australia; The Bahamas; Bahrain; Brunei Darussalam; Canada; Cyprus; Djibouti; the Islamic Republic of Iran; Kuwait; New Zealand; Oman; Puerto Rico (territory of the United States); Qatar; Saudi Arabia; Suriname; Taiwan, China; the United Arab Emirates; West Bank and Gaza; and the Republic of Yemen. In these cases GDP or GNP per capita data and growth rates from the International Monetary Funds World Economic Outlook database and the Economist Intelligence Unit were used. Region and income group Doing Business uses the World Bank regional and income group classifications, available at http://www.worldbank.org/data/countryclass. The World Bank does not assign regional classifications to high-income economies. For the purpose of the Doing Business report, high-income OECD economies are assigned the regional classification OECD high income. Figures and tables presenting regional averages include economies from all income groups (low, lower middle, upper middle and high income). Population Doing Business 2012 reports midyear 2010 population statistics as published in World Development Indicators 2011. The Doing Business methodology offers several advantages. It is transparent, using factual information about what laws and regulations say and allowing multiple interactions with local respondents to clarify potential misinterpretations of questions. Having representative samples of respondents is not an issue;

Methodology
The Doing Business data are collected in a standardized way. To start, the Doing Business team, with academic advisers, designs a questionnaire. The questionnaire uses a simple business case to ensure comparability across economies and over timewith assumptions about the legal form of the business, its size, its location and the nature of its operations. Questionnaires are administered through more than 9,028 local experts, including lawyers, business consultants, accountants, freight forwarders, government officials and other professionals routinely administering or advising on legal and regulatory requirements. These experts have several rounds of interaction with the Doing Business team, involving conference calls, written correspondence and visits by the team. For Doing Business 2012 team members visited 40 economies to verify data and recruit respondents. The data from questionnaires are subjected to numerous rounds of verification, leading to revisions or expansions of the information collected.
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The data for paying taxes refer to January December 2010.

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Doing Business is not a statistical survey, and the texts of the relevant laws and regulations are collected and answers checked for accuracy. The methodology is inexpensive and easily replicable, so data can be collected in a large sample of economies. Because standard assumptions are used in the data collection, comparisons and benchmarks are valid across economies. Finally, the data not only highlight the extent of specific regulatory obstacles to business but also identify their source and point to what might be reformed. Information on the methodology for each Doing Business topic can be found on the Doing Business website at http://www.doingbusiness.org/methodology/.

entrepreneurs reported in the World Bank Enterprise Surveys or other perception surveys.

Subnational Doing Business indicators

This year Doing Business published a subnational study for the Philippines and a regional report for Southeast Europe covering 7 economies (Albania, Bosnia and Herzegovina, Kosovo, the former Yugoslav Republic of Macedonia, Moldova, Montenegro and Serbia) and 22 cities. It also published a city profile for Juba, in the Republic of South Sudan. The subnational studies point to differences in business regulation and its implementationas well as in the pace of regulatory reformacross cities in the same economy. For several economies subnational studies are now periodically updated to measure change over time or to expand geographic coverage to additional cities. This year that is the case for the subnational studies in the Philippines; the regional report in Southeast Europe; the ongoing studies in Italy, Kenya and the United Arab Emirates; and the projects implemented jointly with local think tanks in Indonesia, Mexico and the Russian Federation. Besides the subnational Doing Business indicators, Doing Business conducted a pilot study this year on the second largest city in 3 large economies to assess within-country variations. The study collected data for Rio de Janeiro in addition to So Paulo in Brazil, for Beijing in addition to Shanghai in China and for St. Petersburg in addition to Moscow in Russia.

Limits to what is measured

The Doing Business methodology has 5 limitations that should be considered when interpreting the data. First, the collected data refer to businesses in the economys largest business city and may not be representative of regulation in other parts of the economy. To address this limitation, subnational Doing Business indicators were created (see the section on subnational Doing Business indicators). Second, the data often focus on a specific business formgenerally a limited liability company (or its legal equivalent) of a specified size and may not be representative of the regulation on other businesses, for example, sole proprietorships. Third, transactions described in a standardized case scenario refer to a specific set of issues and may not represent the full set of issues a business encounters. Fourth, the measures of time involve an element of judgment by the expert respondents. When sources indicate different estimates, the time indicators reported in Doing Business represent the median values of several responses given under the assumptions of the standardized case. Finally, the methodology assumes that a business has full information on what is required and does not waste time when completing procedures. In practice, completing a procedure may take longer if the business lacks information or is unable to follow up promptly. Alternatively, the business may choose to disregard some burdensome procedures. For both reasons the time delays reported in Doing Business 2012 would differ from the recollection of

Changes in what is measured

The methodology for 3 of the Doing Business topics was updated this yeargetting credit, dealing with construction permits and paying taxes. First, for getting credit, the scoring of one of the 10 components of the strength of legal rights index was amended to recognize additional protections of secured creditors and borrowers. Previously the highest score of 1 was assigned if secured creditors were not subject to an automatic stay or moratorium on enforcement procedures when a debtor entered a court-supervised reorganization procedure. Now the highest score of 1 is also assigned if the law provides secured creditors with grounds for relief from an

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automatic stay or moratorium (for example, if the movable property is in danger) or sets a time limit for the automatic stay. Second, because the ease of doing business index now includes the getting electricity indicators, procedures, time and cost related to obtaining an electricity connection were removed from the dealing with construction permits indicators. Third, a threshold has been introduced for the total tax rate for the purpose of calculating the ranking on the ease of paying taxes. All economies with a total tax rate below the threshold (which will be calculated and adjusted on a yearly basis) will now receive the same ranking on the total tax rate indicator. The threshold is not based on any underlying theory. Instead, it is meant to emphasize the purpose of the indicator: to highlight economies where the tax burden on business is high relative to the tax burden in other economies. Giving the same ranking to all economies whose total tax rate is below the threshold avoids awarding economies in the scoring for having an unusually low total tax rate, often for reasons unrelated to government policies toward enterprises. For example, economies that are very small or that are rich in natural resources do not need to levy broad-based taxes.

regulatory environment for local entrepreneurs in each economy has changed over time. Ease of doing business The ease of doing business index ranks economies from 1 to 183. For each economy the ranking is calculated as the simple average of the percentile rankings on each of the 10 topics included in the index in Doing Business 2012: starting a business, dealing with construction permits, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and, new this year, getting electricity. The employing workers indicators are not included in this years aggregate ease of doing business ranking. In addition to this years ranking, Doing Business presents a comparable ranking for the previous year, adjusted for any changes in methodology as well as additions of 4 economies or topics. Construction of the ease of doing business index Here is one example of how the ease of doing business index is constructed. In the Republic of Korea it takes 5 procedures, 7 days and 14.6% of annual income per capita in fees to open a business. There is no minimum capital required. On these 4 indicators Korea ranks in th th rd the 18 , 14 , 53 and 0 percentiles. So on average st Korea ranks in the 21 percentile on the ease of th starting a business. It ranks in the 12 percentile on th th getting credit, 25 percentile on paying taxes, 8 th percentile on enforcing contracts, 7 percentile on resolving insolvency and so on. Higher rankings indicate simpler regulation and stronger protection of property rights. The simple average of Koreas st percentile rankings on all topics is 21 . When all economies are ordered by their average percentile rankings, Korea stands at 8 in the aggregate ranking on the ease of doing business. More complex aggregation methodssuch as principal components and unobserved components
In case of revisions to the methodology or corrections to the underlying data, the data are back-calculated to provide a comparable time series since the year the relevant economy or topic was first included in the data set. The time series is available on the Doing Business website (http://www.doingbusiness.org). The Doing Business report publishes yearly rankings for the year of publication as well as the previous year to shed light on year-to-year developments. Six topics and more than 50 economies have been added since the inception of the project. Earlier rankings on the ease of doing business are therefore not comparable.
4

Data challenges and revisions

Most laws and regulations underlying the Doing Business data are available on the Doing Business website at http://www.doingbusiness.org. All the sample questionnaires and the details underlying the indicators are also published on the website. Questions on the methodology and challenges to data can be submitted through the websites Ask a Question function at http://www.doingbusiness.org.

Ease of doing business and distance to frontier

This years report presents results for 2 aggregate measures: the aggregate ranking on the ease of doing business and a new measure, the distance to frontier. While the ease of doing business ranking compares economies with one another at a point in time, the distance to frontier measure shows how much the

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yield a ranking nearly identical to the simple average 5 used by Doing Business. Thus, Doing Business uses the simplest method: weighting all topics equally and, within each topic, giving equal weight to each of the 6 topic components. If an economy has no laws or regulations covering a specific areafor example, insolvencyit receives a no practice mark. Similarly, an economy receives a no practice or not possible mark if regulation exists but is never used in practice or if a competing regulation prohibits such practice. Either way, a no practice mark puts the economy at the bottom of the ranking on the relevant indicator. The ease of doing business index is limited in scope. It does not account for an economys proximity to large markets, the quality of its infrastructure services (other than services related to trading across borders and getting electricity), the strength of its financial system, the security of property from theft and looting, its macroeconomic conditions or the strength of underlying institutions. Variability of economies rankings across topics Each indicator set measures a different aspect of the business regulatory environment. The rankings of an economy can vary, sometimes significantly, across indicator sets. The average correlation coefficient between the 10 indicator sets included in the aggregate ranking is 0.36, and the coefficients between any 2 sets of indicators range from 0.17 (between protecting investors and getting electricity) to 0.57 (between starting a business and protecting investors). These correlations suggest that economies rarely score universally well or universally badly on the indicators.

Consider the example of Canada. It stands at 12 in the aggregate ranking on the ease of doing business. Its ranking is 3 on both starting a business and resolving insolvency, and 5 on protecting investors. But its ranking is only 59 on enforcing contracts, 42 on trading across borders and 156 on getting electricity. Variation in performance across the indicator sets is not at all unusual. It reflects differences in the degree of priority that government authorities give to particular areas of business regulation reform and the ability of different government agencies to deliver tangible results in their area of responsibility. Economies that improved the most across 3 or more Doing Business topics in 2010/11 Doing Business 2012 uses a simple method to calculate which economies improved the most in the ease of doing business. First, it selects the economies that in 2010/11 implemented regulatory reforms making it easier to do business in 3 or more of the 10 topics 7 included in this years ease of doing business ranking. Thirty economies meet this criterion: Armenia, Burkina Faso, Burundi, Cape Verde, the Central African Republic, Chile, Colombia, the Democratic Republic of Congo, Cte d'Ivoire, The Gambia, Georgia, Korea, Latvia, Liberia, FYR Macedonia, Mexico, Moldova, Montenegro, Morocco, Nicaragua, Oman, Peru, Russia, So Tom and Prncipe, Senegal, Sierra Leone, Slovenia, the Solomon Islands, South Africa and Ukraine. Second, Doing Business ranks these economies on the increase in their ranking on the ease of doing business from the previous year using comparable rankings. Selecting the economies that implemented regulatory reforms in at least 3 topics and improved the most in the aggregate ranking is intended to highlight economies with ongoing, broad-based reform programs. Distance to frontier measure This years report introduces a new measure to illustrate how the regulatory environment for local businesses in each economy has changed over time. The distance to frontier measure illustrates the distance of an economy to the frontier and shows
7

See Simeon Djankov, Darshini Manraj, Caralee McLiesh and Rita Ramalho, Doing Business Indicators: Why Aggregate, and How to Do It (World Bank, Washington, DC, 2005). Principal components and unobserved components methods yield a ranking nearly identical to that from the simple average method because both these methods assign roughly equal weights to the topics, since the pairwise correlations among indicators do not differ much. An alternative to the simple average method is to give different weights to the topics, depending on which are considered of more or less importance in the context of a specific economy. 6 A technical note on the different aggregation and weighting methods is available on the Doing Business website (http://www.doingbusiness.org).

Doing Business reforms making it more difficult to do business are subtracted from the total number of those making it easier to do business.

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the extent to which the economy has closed this gap over time. The frontier is a score derived from the most efficient practice or highest score achieved on each of the component indicators in 9 Doing Business indicator sets (excluding the employing workers and getting electricity indicators) by any economy since 2005. In starting a business, for example, New Zealand has achieved the highest performance on the time (1 day), Canada and New Zealand on the number of procedures required (1), Denmark and Slovenia on the cost (0% of income per capita) and Australia on the paid-in minimum capital requirement (0% of income per capita). Calculating the distance to frontier for each economy involves 2 main steps. First, individual indicator scores are normalized to a common unit. To do so, each of the 32 component indicators y is rescaled to (y min)/(max min), with the minimum value (min) representing the frontierthe highest performance on that indicator across all economies since 2005. Second, for each economy the scores obtained for individual indicators are aggregated through simple averaging into one distance to frontier score. An economys distance to the frontier is indicated on a scale from 0 to 100, where 0 represents the frontier and 100 the lowest performance.

The difference between an economys distance to frontier score in 2005 and its score in 2011 illustrates the extent to which the economy has closed the gap to the frontier over time. The maximum (max) and minimum (min) observed values are computed for the 174 economies included in the Doing Business sample since 2005 and for all years (from 2005 to 2011). The year 2005 was chosen as the baseline for the economy sample because it was the first year in which data were available for the majority of economies (a total of 174) and for all 9 indicator sets included in the measure. To mitigate the effects of extreme outliers in the distributions of the rescaled data (very few economies need 694 days to complete the procedures to start a business, but many th need 9 days), the maximum (max) is defined as the 95 percentile of the pooled data for all economies and all years for each indicator. Take Colombia, which has a score of 0.21 on the distance to frontier measure for 2011. This score indicates that the economy is 21 percentage points away from the frontier constructed from the best performances across all economies and all years. Colombia was further from the frontier in 2005, with a score of 0.43. The difference between the scores shows an improvement over time.

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RESOURCES ON THE DOING BUSINESS WEBSITE

Current features News on the Doing Business project http://www.doingbusiness.org Rankings How economies rankfrom 1 to 183 http://www.doingbusiness.org/rankings/ Reports Access to Doing Business reports as well as subnational and regional reports, reform case studies and customized economy and regional profiles http://www.doingbusiness.org/reports/ Methodology The methodologies and research papers underlying Doing Business http://www.doingbusiness.org/methodology/ Research Abstracts of papers on Doing Business topics and related policy issues http://www.doingbusiness.org/research/

Doing Business reforms Short summaries of DB2012 business regulation reforms, lists of reforms since DB2008 and a ranking simulation tool http://www.doingbusiness.org/reforms/ Historical data Customized data sets since DB2004 http://www.doingbusiness.org/custom-query/ Law library Online collection of business laws and regulations relating to business and gender issues http://www.doingbusiness.org/law-library/ http://wbl.worldbank.org/ Contributors More than 9,000 specialists in 183 economies who participate in Doing Business http://www.doingbusiness.org/contributors/doingbusiness/

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