New Delhi: The financial situation of neighboring nation Pakistan will not be good. This isn’t hidden from anybody. However, now it has turn into economically weaker than even a single Indian state. That is the reality. Go away alone India, solely Maharashtra’s economic system is larger than Pakistan. Not too long ago launched authorities knowledge has proved that Maharashtra’s economic system has turn into greater than neighboring nation Pakistan. Other than Maharashtra, three extra Indian states – Tamil Nadu, Uttar Pradesh and Karnataka – have a Gross State Home Product (GSDP) of greater than Rs 20 lakh crore. Maharashtra ranks first with a GSDP of $ 439 billion. On the identical time, Pakistan’s GDP is just $ 338 billion.
Maharashtra’s economic system has grown quickly
Based on the Financial Survey Report of Maharashtra, the state’s economic system is predicted to develop by 7.6 p.c in 2023-24. This progress charge is the same as the full projected progress of the nation. Greater than half of the nation’s factories are current in states like Maharashtra, Tamil Nadu and Gujarat. Tamil Nadu has the best variety of individuals within the nation working within the manufacturing sector.
The state will get essentially the most overseas funding
Based on the Financial Survey 2024 of Maharashtra introduced final month, the state receives the best overseas funding (FDI). Nonetheless, it has come all the way down to Rs 1 lakh crore in 2023-24 as in comparison with the monetary yr 2022-23. Maharashtra has one-fifth of the full startups acknowledged by the central authorities. There are a complete of 21,105 startups within the state.
The report additionally states that the commercial progress charge in Maharashtra, India’s largest economic system, is predicted to extend from 5.5 per cent to 7.6 per cent. Nonetheless, the expansion charge of the service sector might decline from 13 per cent to eight.8 per cent. The contribution of the service sector to the financial progress of the state is far increased than that of trade and agriculture.