Maharashtra eyes 12% growth

The Maharashtra government has set an ambitious target of 10.5% growth in 2020 and 12% in 2030 from the present level of 9.4%.

Further, the government in its Vision 2030,  hoped that the gross state domestic product at current prices will rise to Rs.30 lakh crore in 2020 and Rs.86 lakh crore in 2030 from Rs.22.7 lakh crore now. It expected the per capita income to rise to Rs.268,000 in 2020 and Rs.600,000 in 2030 from Rs.1,47,399.

Further, it expected agriculture and allied activities sector to grow at 5%, industry sector at 12%, services sector at 15% and 30% of the share in GSDP for manufacturing sector by 2030.

The government admitted that its debt stock of Rs.4.13 lakh crore (2017-17 BE) forced the diversion of a large amount of revenue towards interest payment and repayment of the debt.

Though debt and fiscal deficit of the state are well within the limits and the state has not exceeded the borrowing limits for last several years, the provision required for the target achievement is going to put some burden on the financial status of the state.

The official said Maharashtra is an urbanised and industrialised state, and to sustain its industrial and agricultural output environment forms the bedrock of its strategy.

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