2024-07-25 18:18:01
New Delhi: The economic condition of the neighbouring country Pakistan is not good. This is not hidden from anyone. But now it has become economically weaker than even a single Indian state. This is the truth. Leave alone India, only the economy of Maharashtra is bigger than Pakistan. Recently released government data has proved that the economy of Maharashtra has become bigger than the neighbouring country Pakistan. Apart from Maharashtra, the Gross State Domestic Product (GSDP) of three more Indian states – Tamil Nadu, Uttar Pradesh and Karnataka – is more than Rs 20 lakh crore. Maharashtra is in first place with a GSDP of $ 439 billion. On the other hand, Pakistan’s GDP is only $ 338 billion.
Maharashtra’s economy has grown rapidly
According to the Economic Survey Report of Maharashtra, the state’s economy is expected to grow by 7.6 percent in 2023-24. This growth rate is equal to the overall projected growth of the country. More than half of the country’s factories are present in states like Maharashtra, Tamil Nadu and Gujarat. Tamil Nadu has the highest number of people in the country working in the manufacturing sector.
The state receives the highest foreign investment
According to the Economic Survey 2024 of Maharashtra presented last month, the state receives the highest foreign investment (FDI). However, it has come down to Rs 1 lakh crore in 2023-24 as compared to the financial year 2022-23. Maharashtra has one-fifth of the total startups recognized by the central government. There are a total of 21,105 startups in the state.
The report also states that the industrial growth rate in Maharashtra, India’s largest economy, is expected to increase from 5.5 percent to 7.6 percent. However, the growth rate of the service sector may decline from 13 percent to 8.8 percent. The service sector contributes much more to the state’s economic growth than industry and agriculture.