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Self-reliant India package made it easier to start new business

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new Delhi. The corona epidemic and the conditions that caused it in the year 2020 caused a huge loss to the economy of the country and the world. In the meantime, almost all the activities were reduced to zero in April and May due to the lockdown. This situation encouraged incarcerated people to innovate. People moved towards new business and registration of new companies increased. More companies came into existence in 2020 than in 2019.

1.28 lakh new companies came into existence during 2019. This figure reached 1.42 lakh in 2020. In 2020, 11 percent more companies were registered. A major contribution to this growth was the announcement of the Central Government’s Self-Reliant India Package. 37010 companies were registered during January to May in 2020 before the package was announced. The package was announced in May. Between June and December, 1,04,989 companies were registered.

Gujarat at the forefront
Gujarat topped the new companies in the country. During the year 2020, 7324 new companies were registered in Gujarat, while in 2019 5784 companies were registered here. The growth of registration of new companies in the country was 11 percent in 2020.

Sanjeevani – a package of 20 lakh crores
To give a boost to the battered economy in the Corona era, the government announced a relief package of Rs 20 lakh crore in May 2020. Along with this, many types of policies were also reformed. Due to this, when the process of unlocking started at various stages across the country from June 2020, there was a rapid boom in the registration of new companies. On an average, more than 16 thousand new companies were registered in July, August, September and October every month.

Promoters’ investment of 7 thousand crores
According to data from the Corporate Ministry, the promoters invested around Rs 7,000 crore for the new companies coming in 2020. According to experts, promoters invest an average of 1 lakh to 20 lakh rupees for new companies, while the paid up capital for medium and large companies is between 50 lakh to 25 crore rupees. The promoters of the companies have been encouraged after the promoters made the investment.

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