Maharashtra’s economy is expected to grow by 6.8 per cent in 2022-23, while the growth figure for India is pegged at 7 per cent, according to the advanced estimates given by the economic survey of Maharashtra tabled in the Assembly by Deputy Chief Minister Devendra Fadnavis on Wednesday, a day ahead of the state budget. This compares poorly with the 9.1 per cent growth in 2021-22.
The 6.8 per cent growth is expected to come on the back of a 10.2 per cent growth in agriculture and allied activities and a 6.1 per cent growth in industry, the survey showed. In 2021-22, the growth in agriculture and allied sector stood at 11.4 per cent, while industrial growth was 3.8 percent and the growth in the services sector was 10.6 per cent.
The economic survey pegs the nominal (at current prices) gross state domestic product (GSDP) for 2022-23 at Rs 35,27,084 crore and the real (at constant 2011-12 prices) GSDP at Rs 21,65,558 crore.
The average share of Maharashtra in the all-India nominal GDP was the highest among the states at 14 per cent, the report said.
The advanced estimates show that the per capita state income for 2022-23 is expected to be Rs 2,42,247 against Rs 2,15,233 in 2021-22, an increase of about 27,000.
The percentage of fiscal deficit to GSDP is 2.5 and that of debt stock to GSDP is 18.4.
For 2022-23, the state's revenue receipts are expected to be Rs 4,03,427 crore, up from Rs 3,62,133 crore last year. The tax and non-tax revenues, including central grants for 2022-2023 are Rs 3,08,113 crrore and Rs 95,314 crore respectively, according to the report. The economic survey has also said that from June 2020 to December 2022, the state attracted invest proposals of Rs 2.74 lakh crore with employment generation of 4.27 lakh expected under the Magnetic Maharashtra 2.0 scheme.
The foreign direct investment inflow from April 2000 to September 2022 was Rs 10,88,502 crore, which accounted for 28.5 per cent of the total FDI inflow in the country, the report said.
Sowing was completed on 157.97 lakh hactre during the 2022-23 Kharif season, the report showed and said that production of cereals, oilseeds, cotton and sugarcane is expected to increase by 10 per cent, 19 per cent, 5 per cent and 4 per cent, respectively. Production of pulses is, however, expected to go down by almost 37 per cent compared to last year, according to the survey.
During the Rabi season of 2022-23, sowing was completed in 57.74 lakh hectares, the report said and added the production of pulses is expected to increase by 34 per cent in the rabi season.
The survey also highlighted that Rs 21,991.86 crore have been deposited in the accounts of 110.31 lakh small and marginal farmers till February 2, 2023, under the Pradhan Mantri Kisan Samman Nidhi Yojana. During 2022-2023 financial year, till September, crop loans of Rs 38,083 crore and agricultural term loans of Rs 33,905 crore were disbursed through scheduled commercial banks, regional rural banks and district cooperative banks, according to the report.
The survey also said that Maharashtra has achieved 100 per cent sanitation coverage in 27,668 gram panchayats and 351 panchayat samitis in 34 districts under the Swachh Bharat Mission, whose second phase is also being implemented in the state.
