Narendra Modi government has set an ambitious target to improve India's ranking in ease of doing business to among the top 50 in the next two years. The goal looks very difficult and ambitious because India is ranked at 142 among 189 countries in the latest World Bank's ease of doing business index. In fact, India's ranking has taken a hit in the recent years. It slipped by 11 spot in the past two years.
Inheriting a legacy of jobless growth is not a very happy situation for any new government. But Narendra Modi took up this daunting challenge as an opportunity to unleash some of the radical labour reforms - one that not only would please labourers but also meet the needs of India Inc, steps that remove irritants in doing business and help in reducing compliance time and cost.