During the current fiscal (FY25) the total number of companies registered stands at 1,12,962 (till November 30), the government notified.
Harsh Malhotra the Minister of State in the Ministry of Corporate Affairs, cited in a reply in Lok Sabha that diverse initiatives have been opted by the government to facilitate the registration of companies.
Central Registration Centre (CRC) is among the initiatives that were made in 2016 to centralize the online procedure of incorporation to enhance the process of registration.
“The cost of starting a business has been reduced significantly through a number of initiatives. All companies with an authorized capital up to Rs 15,00,000 are incorporated at zero fees,” the government mentioned.
In the year 2020 Amendments were made to the Companies Act, 2013 to streamline the operations of the business, decriminalisation of offences and rectify compliance needs, particularly for small companies, one-person companies, startups and producer companies.
The new companies’ growth shows an improvement in the business environment of the country. India at the end of March 2024 had a total of 26,63,016 companies that were registered. Indeed there was a total of 5,164 foreign companies registered in the country in that time duration showing the FDI flow into the rising economy.
MCA has focused on lessening the compliance load and rectifying the simplicity of operating the business.
In aspirational districts, Malhotra notified that corporate social responsibility (CSR) expenditure has surged from FY 2020-21 to FY 2022-23.
In FY2022-23 Rs 1,402.89 crore were spent since CSR expenditure in such districts, as per the minister.
In January 2018, launched by Prime Minister Narendra Modi the Aspirational Districts Programme (ADP) desired to transform 112 most under-developed districts across the nation.
