Maharashtra economic survey pegs GDP growth at 9.4 per cent this fiscal


Nagpur/Mumbai: The government has invested more in infrastructure and transportation which has helped them to maintain the speed of growth rate steady.

The Economic Survey of Maharashtra indicates that the Gross State Domestic Product (GSDP) is expected to grow at 9.4 per cent in 2016-17 as compared to 8.5 per cent of 2015-16. Also there is positive news for agriculture sector. Survey estimates agriculture and allied sector’s growth will be 12.5 per cent from minus 4.6 per cent.

State’s Economic Survey for 2016-17 was tabled by Finance Minister Sudhir Mungantiwar who feels that Maharashtra is moving towards double digit growth in upcoming years. But state’s public finance will be a big concern for the state government as its total debt is estimated to be Rs 3.56 lakh crore. As compared to Rs 3.2 lakh crore, interest payment is also set to increase from Rs 28220 crore to Rs 26217 crore.

The government has invested more in infrastructure and transportation which has helped them to maintain the speed of growth rate steady. Maharashtra has also taken development work of 10 cities of states which got nominated for Smart City project. At the end of March 2016 the total road length maintained by PWD and ZP was about 3.01 lakh. About 99 per cent villages were connected by all-rounder roads or fair weather roads.

Importantly, the figure of land under irrigation was not mentioned. On being asked, the minister promised to read out the figures on Saturday.

Today when economic survey was getting tabled in Upper House Congress and NCP created uproar as Shiv Sena leader and state minister for Finance Deepak Kesarkar was tabling it. They opposed to Kesarkar saying Shiv Sena also wants loan waiver for farmers then how can Sena ministers table Economic Survey? But clarifying his stand while speaking to media Deepak Kesarkar told it’s his duty to table this survey and present tomorrow’s budget. He has got same instructions from party chief Uddhav Thackeray to continue his duty first.

According to the Economic Survey, total debt stock of Rs 3.56 lakh crore is 15.7 per cent of GSDP and is well within the limit of 22.1 per cent laid down by the 14th Finance Commission.