New Delhi, Sep 5 (IANS): The Centre on Saturday named Andhra Pradesh as the best performing state in terms of implementing business reforms.

The state ranking on the basis of implementing state Business Reform Action Plan was released by Finance Minister Nirmala Sitharaman on Saturday.

The state Business Reform Action Plan, 2019 is aimed at improving the business environment by simplifying procedures, digitisation of information and easing the compliance burden.

As per the ranking, Uttar Pradesh was the second and Telangana was the third best state in implementing business reforms.

After releasing the report, Nirmala Sitharaman said the Centre was trying to instil a competitive spirit in the states through this initiative.

She pointed out that India has a credible background in implementing reforms which is one of the key reasons for FDI inflow even during the "strictest period" of the lockdown.

The Finance Minister said the Centre's 'Atmanirbhar Bharat' initiative envisages the country to increase exports by becoming competitive and offering quality products.