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2mo ago

Maharashtra's Economy Projected to Grow 7.3% in 2024-25, Outpacing National Growth

The state's economic survey highlights robust agricultural growth, slower industrial and services expansion, and rising fiscal metrics.

Maharashtra deputy chief minister Ajit Pawar arrives for the Budget session of the state assembly in Mumbai. (PTI)
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Maharashtra retains top spot in FDI: State Economic Survey

Overview

  • Maharashtra's economy is expected to grow at 7.3% in 2024-25, higher than India's projected national growth rate of 6.5%.
  • Agriculture and allied activities are forecasted to grow by 8.7%, the highest in four years, while industrial and services sectors are set to expand at slower rates of 4.9% and 7.8%, respectively.
  • The state's debt is projected to rise to ₹7.83 lakh crore, equating to 17.3% of GSDP, which remains within the Finance Commission's recommended limit of 25%.
  • Per capita income is estimated to increase to ₹3.09 lakh, though 12 districts still fall below the national average of ₹1.89 lakh for 2023-24.
  • Infrastructure projects, including the completion of India’s longest underground metro line by June and ongoing metro expansion, are expected to improve urban connectivity and reduce traffic congestion.