The Ministry of Corporate Affairs (MCA) registered more than 1.55 lakh company incorporations in FY 2020-21.
The registration of companies increased 27 percent compared to 1.22 lakh companies in FY 2019-20, said an official statement.
Similarly, 42,186 limited liability partnerships (LLPs) got incorporated in the last fiscal as against 36,176 in the previous fiscal, an increase of about 17 percent. The increase is significant considering the unprecedented situation faced by the country due to the Covid-19 pandemic.
The MCA statement said that the Central Registration Centre (CRC) continued to function even during the lockdown to enable stakeholders to incorporate companies and LLPs.
