India, Oct. 28 -- India was ranked 58th in the annual Global Competitiveness Index compiled by Geneva-based World Economic Forum (WEF) last year. This year India has slipped 10 rungs to end up at the 68th rank on the WEF annual Global Competitiveness Index, due to a marked improvement in the economies of some other countries.
Prime Minister Narendra Modi's government has set a record target of raising 1.05 trillion rupees ($14.8 billion) in the current fiscal year from sale of State Firms. The government's budget gap goal of 3.3% of GDP is at risk due to sluggish revenue collections on the back a growth slowdown, limiting the government's ability to spend on infrastructure and welfare programs.
The government is keen to lure multinationa...