The state of Maharashtra, which houses the financial capital of India, Mumbai, has failed to live up to its reputation as the business hub of India, slipping from the 10th to 13th position in ease of doing business rankings by the World Bank and Department of Industrial Policy and Promotion (DIPP).

The list revealed that Andhra Pradesh and Telangana secured the top two positions, while West Bengal replaced Maharashtra in the 10th position.

The opposition said that this downfall was because of the ongoing clashes between the BJP and Shiv Sena.

"Jharkhand (ranked fourth in the list) has surpassed Maharashtra, which was No 1 during our regimes... this is all because of poor coordination between the BJP and the Shiv Sena," said Maharashtra Congress chief Ashok Chavan.

NCP spokesman Nawab Malika also alleged that investors were afraid of doing business in the state due to the "rise in corruption".

"The truth is coming out now... the government's poor planning in terms of bringing investment here has resulted in this situation... Thriving corruption under their watch has also made investors afraid of investing here," he added.

The ease of doing business index measures the ease with which a person can set up a shop or a factory at a given place. For this, it looks at parameters like the level of implementation of reform in the areas of registering property, land availability and allotment, single window system, access to information and so on.