New Delhi

He also said that besides improving the ease of doing business rankings, it would also increase the 'ease of living' for small businesses and the common man.

Modi said this was extremely important for India as an emerging and vibrant economy, a statement issued by the Prime Minister's Office said here.

The prime minister made these remarks at a high-level meeting he chaired to review progress of 'ease of doing business'.

It was attended by senior Union ministers related to economic matters, Maharashtra Chief Minister Devendra Fadnavis, Delhi Lt Governor Anil Baijal and senior officials from the Centre, and Delhi and Maharashtra governments.

He was briefed on the progress being made on various parameters related to ease of doing business.

Subjects such as construction permits, enforcement of contracts, registering property, starting a business, getting electricity, getting credit, and resolving insolvency came up for discussion.

India's rise in the World Bank 'Doing Business' rankings from 142 to 77, over the last four years, was taken note of, the statement said.

Officials explained the steps being taken to plug shortcomings and resolve bottlenecks in implementing business reforms.

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