Mumbai: Despite being hit by the Corona Pandemic for the last two years, Maharashtra’s growth rate is estimated to be 12.1 percent in the financial year 2021-22 ending on March 31. While the country’s growth rate is estimated to be 8.9 percent during this period. The Maharashtra Economic Survey Report was presented in the Legislative Assembly and Legislative Council on Thursday. Accordingly, the growth of 4.4 per cent in agriculture and allied work sector, 11.9 per cent in industry and 13.5 per cent in services sector has been projected.
An increase of 6.9 per cent in animal culture, 7.2 per cent in afforestation and 1.6 per cent in fisheries has been projected. The Economic Survey report states that Maharashtra’s contribution to the country’s GDP will be around 14.2 percent.
decrease in per capita income
Maharashtra ranks fifth in terms of per capita income after Haryana, Karnataka, Telangana and Tamil Nadu. The per capita income in Maharashtra is estimated to be Rs 1.93 lakh during the year 2020-21. Whereas for 2019-20 it was Rs 1,96,100. In the last two years, due to the corona epidemic, the economic activities of the state have been affected a lot. It has also affected per capita income.
read also
expected to generate less revenue
According to the budget estimate for the year 2021-22, this year the revenue was estimated to be Rs 3,68,987 crore, which is estimated to be Rs 79,489 crore less i.e. Rs 2,89,498 crore according to the revised estimate. According to the Economic Survey, the manufacturing sector will grow at 9.5% (as against minus 11.8%) and the construction sector at 17.4% (minus 14.6%). The percentage of fiscal deficit to GSDP as of 2021-22 is 2.1 per cent and the debt stock to GSDP is 19.2 per cent. The Gross State Domestic Product (GSDP) is estimated at Rs 31,97,782 crore. The fiscal deficit of GSDP is 2.1 per cent and the debt stock of GSDP is 19.2 per cent.
other highlights
- Sowing completed in 155.15 lakh hectare area during Kharif season
- Sowing was completed on 52.47 lakh hectares of land by the end of January during Rabi season 2021-22.
- The production of pulses is expected to increase by 14 per cent, while the production of cereals and oilseeds is expected to decline by 21 per cent and 7 per cent, respectively, over the previous year.
- The production of cereals, pulses, oilseeds, cotton and sugarcane is expected to decline by 11 per cent, 27 per cent, 13 per cent, 30 per cent and 0.4 per cent, respectively, over the previous year.
There were 10,785 start-ups in the state by the end of October 2021
A total of 71.70 lakh COVID-19 cases have been registered in the state till January 15, 2022. At least 67.60 lakh people have recovered from the infection and the recovery rate is 94.3 percent.
budget will be presented tomorrow
The Maharashtra government will present the state budget for the year 2022-23 on Friday, March 11. State Finance Minister Ajit Pawar will present the budget in the assembly at 2 pm. At the same time, Minister of State for Finance Shambhuraje Desai will present the budget in the Legislative Council at the same time. Apart from the industry, the general public will have a special eye on the announcements of the government in this budget. People associated with the construction sector are hopeful that a big announcement can be made in this budget to give a boost to the real sector. At the same time, the government makes a provision of how many crores of funds to complete the loan waiver work of farmers. Everyone’s attention will be on this too. Apart from this, how will the government further raise revenue to complete the infrastructure related projects. It would also be important to see this.