Maharashtra GSDP likely to grow at 5.7 pct; agriculture rate declines

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Mumbai | Updated: March 17, 2015 9:26:26 PM

Maharashtra's Gross State Domestic Product (GSDP) is expected to grow at 5.7 per cent during 2014-15, according to the state Economic Survey...

GSDP, Maharashtra GSDP, Maharashtra GSDP growth, Maharashtra agriculture rateMaharashtra’s GSDP at constant (2004-04) prices is Rs 89,6768 crore during 2013-14, as against Rs 83,5929 crore in 2012-13, the survey says. Reuters

Maharashtra’s Gross State Domestic Product (GSDP) is expected to grow at 5.7 per cent during 2014-15, according to the state Economic Survey, tabled in the State Legislature today.

The survey, presented a day ahead of the state budget tomorrow, however, says ‘agriculture and allied activities is expected to show negative growth ‘as fluctuations in rains have adversely affected the sector.

The state received around 70 per cent of its normal rains resulting in negative growth of about 12.3 per cent in the Agriculture sector over the previous year.

Forestry sector is expected to grow at 7.3 per cent over the previous year while fishing sector is expected to grow at 2.6 per cent.

Overall, the Agriculture and allied activities sector is expected to grow at (-) 8.5 per cent over the previous year, the report which was tabled in the Legislative Assembly by Minister of State for Finance, Deepak Kesarkar, said.

Industry and services sector are expected to grow at four per cent and 8.1 per cent respectively with major contribution from the growth of electricity, gas and water supply at 16.3 per cent and construction sector at 10.4 per cent. Manufacturing sector is expected to grow at 0.5 per cent over the previous year, it says.

Overall, the economy is anticipated to grow at 5.7 per cent during 2014-15, the report said.

Maharashtra’s GSDP at constant (2004-04) prices is Rs 89,6768 crore during 2013-14, as against Rs 83,5929 crore in 2012-13, the survey says.

This is an increase of 7.3 per cent as per the first revised estimates, it adds.

GSDP during 2-13-14 at current prices is Rs 15,10132 crore, showing an increase of 14.2 per cent over the previous year.

During August 1991 to October 2014, 18,709 industrial projects with proposed investment of Rs 10,63342 crore were approved. Of these, 8376 projects (44.8 per cent) with proposed investment of Rs 25,4784 crore (23.9 per cent) were commissioned, the survey said.

The economic survey said GSDP of 2013-14 was 7.3 per cent and hence the growth rate has dipped by 1.6 per cent.

As per budget estimates, in 2014-15, revenue deficit is Rs 4103 crore, fiscal deficit is Rs 30,965 crore and the debt is Rs 3,00,477 crore. The percentage of fiscal deficit to GSDP is 1.84 and debt stock to GSDP is 17.81 in 2014-15, which is well within the limits stipulated by the 13th Finance Commission under the consolidated fiscal reform path.

Out of the 355 talukas (excluding Mumbai city and suburban districts), 226 talukas received deficient, 112 talukas received normal and 17 talukas received excess rainfall.

During the kharif season of 2014, sowing was completed on 145.79 hectare land which was three per cent less than the previous year (150.56 lakh ha).

The area under cereals and pulses decreased while that under oilseeds and sugarcane slightly increased as compared to the previous year.

The production of cereals, pulses, oil seeds and cotton is expected to decrease while that of sugarcane is expected to increase marginally as compared to the previous year, the economic survey report said adding that it was due to severely deficient rainfall received during the sowing period and vegetative growth stage of kharif crops in all parts of the state.

Similarly, due to deficient rains in Kharif season of 2014, area under Rabi crops is expected to decrease by 27 per cent as compared to previous year.

During 2013-14 , commercial banks disbursed crop loan of Rs 16462 crore, regional rural banks disbursed Rs 1611 crore and Maharashtra state co-operative bank, district central co-operative banks and land development banks together disbursed Rs 13354 cr. These banks also disbursed agriculture term loans of Rs 8257 crore.

During 2013-14, primary agriculture credit co-operative societies disbursed loan of Rs 8567 crore to farmers, of which loans of Rs 4279 crore were disbursed to small and marginal farmers, the report said.

Average daily collection of milk by the government and co-operative dairies upto December during 2014-15 was 43.3 lakh litres which was 39.2 lakh litres during the previous year.

Till September month of this fiscal, estimated marine and inland fish production was 1.22 lakh metric tonne and 0.83 lakh metric tonne respectively as compared to 4.67 lakh metric tonne and 1.35 lakh metric tonne in the previous year.

Between August 1991 to October 2014, about 18,709 industrial proposals with proposed investment of Rs 10,63,342 crore were approved. Out of which 8,376 projects (44.8 per cent) with proposed investment of Rs 2,54,784 crore (23.9 per cent) were commissioned.

Up to December 2014, in all about 2.12 lakh micro, small and medium enterprises were functioning with investment of Rs 50,637 crore and 26.9 lakh employment.

As per the provisional results of annual survey of industries 2012-13 released by the Government of India, Maharashtra is at the top position in gross value added, fixed capital and emoluments to employees.

Out of the 2.30 lakh co-operative societies with about 509 lakh members, 24 per cent of the societies were in loss out of which 20.7 per cent were in agriculture credit.

Installed capacity of electricity was 30,917 MW as on December 31, 2014. Generation of electricity was 78,488 million units upto December 2014 which was 18.1 per cent higher than the corresponding period of the previous year.

The installed capacity of renewable sources of energy was 6613 MW while the total electricity generated from it was 5207 million units up to December 2014.

During 2013-14, transmission losses for Mahatransco, distribution losses and aggregate technical and commercial losses of Mahadiscom were 4.08 per cent, 14.0 per cent and 17.76 per cent respectively.

The economic survey also stated that 250 villages in the state had no road connectivity. The total number of vehicles on road as on January 1, 2015 was 250 lakh (21,152 vehicles per lakh population and 95 vehicles per km road length). The total number of accidents and persons killed during 2014 were 61511 and 12691 respectively.

Birth rate, infant mortality rate and death rate were 16.5, 24, 6.2 per cent respectively in 2013. The corresponding figures were 16.6, 25 and 6.3 respectively in 2012. Maternal mortality ratio during 2011-13 was 68.

In 2013-14, number of primary schools percentage of schools have girls toilets were 97.3 and the percentage of schools have drinking water facilities was was 96178 and about 1.62 crore students were enrolled of which 46.8 per cent were girls.

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