During the Financial Year 2021-22, Ministry of Corporate Affairs (MCA) registered more than 1.67 Lakh companies which is 0.22 Lakh more as compared to companies registered during FY 2020-21 which was 1.55 Lakh.
The increase is significant considering that number of companies incorporated during Financial Year 2020-21 were the highest in any of the previous years. The incorporations during FY 2021-22 are 8% more than the incorporations during FY 2020-21.
While MCA had registered 1.24 lakh companies during FY 2018-19 and 1.22 lakh companies in 2019-20 respectively, it had registered 1.55 Lakh companies during FY 2020-21. As part of Government of India’s drive for Ease of Doing Business (EoDB), the MCA has taken many initiatives thereby saving as many procedures, time and cost for starting a business in India.