The Maharashtra economy is expected to grow by 12.1% in 2021-22, compared to minus 8% in 2020-21, as a result of the lifting of a slew of restrictions and the receding coronavirus pandemic wave.
The state’s Gross State Domestic Product (GSDP) growth will be greater than the Indian economy’s growth rate of 8.9%.
Agriculture and allied activities are expected to grow by 4.4%(vs. 11.7 percent), industry by 11.9%(vs. 11.3 percent), and services by 13.5% during 2021-22.
The Free Press Journal reported on Thursday that Maharashtra’s economic growth will improve.
The real GSVA of the Agriculture & Allied Activities sector is expected to grow at 4.4%, while the ‘Crops’ sector is expected to grow at 3%, while the ‘Livestock’, ‘Forestry & Logging’, and ‘Fishing & Aquaculture’ sectors are expected to grow at 6.9%, 7.2%, and 1.6%, respectively.
Manufacturing will grow at a rate of 9.5 % (versus a rate of -11.8 percent) and construction will grow at a rate of 17.4 %(minus 14.6 %).
According to preliminary estimates, nominal (at current prices) Gross State Domestic Product (GSDP) for 2021-22 will be Rs 31,97,782 crore, while real (at constant 2011-12 prices) GSDP will be Rs 21,18,309 crore.
As per the first revised estimates, nominal GSDP for 2020-21 is Rs 27,11,685 crore as against Rs 27,34,552 crore for 2019-20. Real GSDP is Rs18,89,307 crore for 2020-21 as against Rs 20,43,983 crore for 2019-20.
The Per capita State Income for 2020-21 is Rs 1,93,121 as against Rs 1,96,100 for 2019-20.
The revenue receipts of the State are Rs 3,68,987 crore for 2021-22 (BE) as against Rs 2,89,498 crore during 2020-21 (RE). The tax and non-tax revenue (including central grants) as per 2021-22 (BE) are Rs 2,85,534 crore and Rs 83,453 crore respectively. Actual revenue receipts during April to
November, 2021 were Rs 1,80,954 crore (49.0 per cent of BE).
The revenue expenditure of the State is Rs 3,79,213 crore as per 2021-22 (BE) as against Rs 3,35,675 crore during 2020-21 (RE).
As per 2021-22 (BE), the share of capital receipts in total receipts and capital expenditure in total expenditure are 23.8 per cent and 21.7 %respectively.
Share of development expenditure in revenue expenditure is 68.1 per cent as per 2020-21 (RE).
The percentage of fiscal deficit to GSDP is 2.1 per cent and debt stock to GSDP is 19.2 per cent as per 2021-22 (BE)
Annual scheme 2021-22
Total funds proposed for annual scheme 2021-22 are Rs 1,30,000 crore of which the share of district schemes is Rs 15,622 crore.
Grants-in-aid as per recommendations of 15th Finance Commission –
Total transfer of financial resources to the State during 2021-22 to 2025-26 is expected to be Rs 3,37,252 crore, of which total grants-in-aid is expected to be Rs 70,375 crore.
The State is expected to receive about Rs 41,391 crore grants-in-aid for local bodies, of which amount of Rs 7,067 crore is earmarked for strengthening of the rural as well as urban health care system.
As per the 15th FC recommendations, the State is expected to receive about Rs 17,803 crore grants from GoI under State Disaster Risk Management Funds during 2021-22 to 2025-26.
As on 31st March, 2021 aggregate bank deposits were Rs 30.53 lakh crore and gross credit of scheduled commercial banks was Rs 28.96 lakh crore in the State. Credit-Deposit Ratio was 94.8% as on 31st March, 2021
Annual Credit Plan size for the Priority Sector of the State for 2021-22 is Rs 4.61 lakh crore in which the share of â€˜Agriculture & allied activitiesâ€™ sector is 25.8 per cent and that of â€˜Micro, Small, Medium enterprises and Khadi & Village Industriesâ€™ sector is 54.0%.
Food grain production
The State received 118.2% of the normal rainfall during monsoon 2021. In the State, 187 talukas received excess rainfall, 146 received normal rainfall and 22 received deficient rainfall.
According to the Agriculture Census 2015-16, the average size of an operational holding is 1.34 ha, compared to 4.28 ha in 1970-71. According to the Agriculture Census 2015-16, the total area of small and marginal operational holdings (up to 2.0 ha) accounted for 45% of all operational holdings, while the total number of small and marginal operational holdings accounted for 79.5% of all operational holdings.
During the kharif season of 2021-22, sowing was completed on 155.15 lakh ha area. The production of cereals, pulses, oilseeds, cotton and sugarcane is expected to decrease by
11%, 27%, 13%, 30% and 0.4% respectively of the previous year.
During rabi season 2021-22, by the end of January sowing was completed on 52.47 lakh ha. The production of pulses is expected to increase by 14% while production of cereals and oilseeds is expected to decrease by 21% and 7% respectively over the previous year.
Horticulture crops cover 21.09 lakh ha, and production is expected to be 291.43 lakh MT in 2020-21.