NEW DELHI : The second wave of the covid-19 pandemic had little effect on entrepreneurship, unlike the first wave which had a huge impact, official data on the incorporation of companies showed. In March 2021, the number of companies set up had risen to 17,324 when compared with the 5,788 set up in March last year. Among sectors, services accounted for 63% of all companies set up in April. Besides the number of companies set up, the aggregate authorized capital also came off from the peak seen in March of ₹4,145 crore to ₹1,483 crore in April, the corporate affairs ministry data showed. The agency also forecast a pessimistic scenario of 8% growth in case of downside risks to growth from a third wave of the pandemic or slower than anticipated vaccination pace.

Source: Mint June 07, 2021 10:51 UTC