Growth of Corporate Sector

The growth of Indian corporate sector in terms of number of active companies for the financial year 2013-14, 2014-15, 2015-16  and 2016-17( up to 30.11.2016) is as under:

*As on 30.11.2016

The impact of corporate growth on employment scenario in the country has not been assessed.

The Ministry of Corporate Affairs has taken a number of measures to promote growth of corporate sector and improve ease of doing business in the Country. These include, inter alia, (i) doing away with the payment of minimum paid up capital at the time of incorporation as well as declaration of commencement of business by the companies, (ii) mandatory common seal for companies is made optional, (iii) setting up of Central Registration Centre (CRC) for name availability and incorporation/registration of companies as a part of government process re-engineering (GPR), (iv) deployment of Simplified Proforma for Incorporating Company electronically (SPICe), and (v) granting of various exemptions/relaxations from the provisions of the Companies Act, 2013 to companies including startups, subject to certain conditions.

This was stated by Shri Arjun Ram Meghwal, Minister of State for Corporate Affairs in written reply to a question in Lok Sabha.