Telangana witnesses significant decline in new company registrations
Hyderabad ranks fifth in terms of year-on-year growth among the top 10 districts, but witnesses more than 10% drop in registrations when compared to last year
Hyderabad: Telangana witnessed a significant decline in new company registrations between July and September during this fiscal, compared to the same period in 2023-24, according to the Ministry of Corporate Affairs latest report.
Hyderabad was ranked fifth in terms of year-on-year growth among the top 10 districts, but witnessed more than 10 per cent drop in registrations when compared to last year.
Highlighting the worrisome trend on X, former Finance Minister and senior BRS MLA T Harish Rao said it had a severe impact on economic development in Telangana.
Telangana has seen a significant decline in new company registrations from July to September 2024-25 compared to the same period in 2023-24, according to the Ministry of Corporate Affairs latest report.
This drop indicates reduced capital investment, fewer job opportunities, and… pic.twitter.com/NlXayZ247I
— Harish Rao Thanneeru (@BRSHarish) October 29, 2024
He shared a report released by the Union Ministry of Corporate Affairs where a notable decrease in new company registrations in Telangana was recorded. He pointed out that this decline adversely affects capital investments and employment opportunities in the State, leading to a decrease in both direct and indirect tax revenues.
He went on to criticise the Congress government led by Chief Minister A Revanth Reddy, for failing to achieve its goal of promoting startups and entrepreneurship despite initiatives like Startup Telangana. “This is the ‘MARPU’ (change) Congress has brought to Telangana,” he stated.
Meanwhile, BRS working president KT Rama Rao took a dig at the Congress government in Telangana over declining investments in the State.
Sharing data on fresh projects in the last six months, he congratulated Maharashtra, Gujarat, Karnataka, Uttar Pradesh, Rajasthan, Tamil Nadu and Odisha for securing top spots in attracting largest investments to their respective States in the order.
“Where is Telangana? Did they not count the Swach Bio and Adani investments?” he asked, taking a jibe at the Congress government in the State. The investments in Telangana during the first six months of the current fiscal stood at Rs.56515.87 crore and the State was ranked eighth among the investment destinations.
