Maha's economy to grow at 5.7% in 2019-20: Economic Survey
The agriculture and allied activities are expected togrow at 3.1 per cent in 2019-20, it said.
The survey said the industry and services sectors areexpected to grow at 3.3 per cent and 7.6 per cent in 2019-20,slower than the previous fiscal's 5.5 per cent and 8.1 percent respectively.
The average share of the state's contribution is 14.3per cent among all the states in the All India nominal GDP, itsaid.
Nominal GSDP is expected to increase by Rs 2,45,791crore in 2019-20 as compared to 2018-19.
The per capita state income in 2019-20 is expected tobe Rs 2,07,727.
The GSDP in 2019-20 is expected to be Rs 28,78,583crore, it added.
The growth rate of the agriculture and allied sectorin 2018-19 was negative (-2.2) per cent. In 2017-18, thegrowth rate was -0.7 per cent.
The revenue deficit in 2019-20 is Rs 20,293 crore,fiscaldeficit Rs 61,670 crore and the debt stock was Rs4,71,642 crore, the report said.
The percentage of fiscal deficit to GSDPis 2.1 percent and debt stock to GSDP is 16.4 per cent.
Both the indicators are within the fiscal limitsprescribed by the 14th Finance Commission.
The state witnessed average rainfall of 73.6 per centof the average during 2018-19, less by 10.7 per cent in 2017-18.
In2018-19,the production of food grains and fruits,and vegetables decreased by 27.3 per cent and 10.1 per centrespectively, whereas sugarcane, oilseeds and cottonincreased by 8 per cent, 16.1 per cent and 8.2 per centrespectively over the previous year.
The survey said the unemploymentratein January toMarch 2019 was 8.3 per cent as compared to 9.6 per centinOctober to December 2018.
Total 37,567 offences were reported in the state in2019, in which women were victims, as compared to 35,497 in2018 and 31,997 in 2017, the report noted.
FDI inflows in 2019-20 was Rs 25,316 crore, which isless as compared to Rs 80,013 crore in 2018-19 and Rs 86,244crore in 2017-18.
Maharashtra was second in the country after Karnatakain terms of FDI in 2019-20, it said.
The state received 112.6 per cent rainfall during themonsoon of 2019.
Of the 355 talukas, excluding Mumbai city and suburbs,152 talukas received excess rainfall, 182 got normal rainfalland 21 received deficient rainfall, the survey report said.
During the kharif season of 2019-20, sowing wascompleted on 149.61 lakh hectare area.
Production of cereals, pulses, oilseeds and cotton isexpected to increase by nine per cent, three per cent, one percent and 24 per cent respectively, while the production ofsugarcane is expected to go down by 36 per cent as compared tothe previous fiscal.
During 2019-20, the area under rabi crops is 50.87lakh hectares, which is 5.6 per cent more as compared toprevious year.
Theproduction of cereals and pulses is expected to goup by 43 per cent and 23 per cent respectively, while theproduction of oilseeds is expected to decrease by 24 per cent.
The survey said that Mahatma Jyotirao Phule FarmWaiver Scheme 2019 has been approved (by the MVA government)to waive overdue loans borrowed between April 1, 2015 andMarch 31, 2019 up to Rs two lakh, including the principalamount and the interest, as on September 30, 2019.
The state government has provided Rs 15,000 croreduring 2019-20 for its implementation.
Irrigationpotential created as one June 30, 2019 bymajor, medium and minor irrigation (state projects) was 51.23lakh hectares and the actual irrigated area was 35.97 lakhhectares (70.2 per cent) during 2018-19, it said.
The irrigation potential created as on June 30, 2019by minor irrigation (local sector) projects was 18.96 lakhhectares and the potential utilised was 8.49 lakh hectares(44.8 per cent) during 2018-19.
Unseasonal rains during October-November 2019 due tocyclones Kyarr and Maha, affected agriculture and horticulturecrops from 349 talukas in 34 districts, the report said.
Compensation for Rs 8,000 per hectare for agriculturecrops and Rs 18,000 per hectare for horticulture crops wassanctioned, the report said. MRNP NP