Facebook Pixel Code

State of Maharashtra economy: Booming and growing, but unequally

Despite boasting among the highest growth rates in the country and owning the second highest number of industries…

Despite boasting among the highest growth rates in the country and owning the second highest number of industries, Maharashtra continues to present a paradox with low industrial growth and high social inequality. A study by Crisil in November gave Maharashtra a prosperity index of 85.2 and an equality index of 81.7, noting that much of the prosperity was in Mumbai households. ?Maharashtra has the highest level of real income per person… But the penetration of household ownership of durable assets is lower than in 6 others, including Punjab and Gujarat,? it said.

The disparity and stagnation in industry and manufacturing is what the new government will need to address. In 2012-13 , Maharashtra?s industry sector grew 6.97 per cent and manufacturing 5.09 per cent, lower than Gujarat (7.12 and 6.38 per cent), Kerala and Orissa. However, it has a share of 20 per cent in the country?s industrial output and net value addition in industry. The state is expected to have grown by 8.7 per cent in 2013-14, better than the 7.13 per cent of 2012-13.

Get live Share Market updates, Stock Market Quotes, and the latest India News and business news on Financial Express. Download the Financial Express App for the latest finance news.

First published on: 20-10-2014 at 07:53 IST
Market Data
Market Data
Today’s Most Popular Stories ×