Maharashtra’s financial progress to drop to 7.3%, a 4-year low: Govt, ETCFO
The state’s financial progress price is about to say no from 8% in 2023-24 to 7.3%, in response to Maharashtra’s financial survey for 2024-25. The state’s progress price, nevertheless, is larger than the nationwide projected progress price of 6.5%. Maharashtra accounts for 13.5% of the nation’s GDP.
Whereas the agricultural sector has completed nicely on account of a very good monsoon, declines in estimated progress of commercial and providers sectors seem to have pulled down total numbers. Manufacturing and utilities sectors in trade and the general public administration providers have led the estimated decline in progress.
Whereas it’s the bottom projection in 4 years, the survey factors out, “After Covid 12 months 2020-21, a progress of over 7% has been noticed for 4 consecutive years within the state economic system.”
The expansion price of the state’s industrial sector is estimated to fall to 4.9% from 6.2% in 2023-24, the survey says. That is the sector most focused by the Opposition, which claims the state is dropping out on industrial investments to neighbouring states like Gujarat.
By comparability the nationwide progress price for the economic sector is projected barely larger at 5.6% for 2024-25.
