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.
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.
