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Maharashtra economy seen growing by 7.1 per cent

The Economic Survey presented to the Maharashtra Legislature today states that the state economy is expected to grow by 7.1 per cent during 1999-2000.

The Survey says that the economy has registered a significant growth of 9.9 per cent in 1998-99, which is more than one-and-a-half times of the 6.2 per cent growth in 1997-98.

In 1999-2000, the sectoral growth rates of state income are expected to be 4.7 per cent in the primary sector (agriculture and allied activities), 7.9 per cent in secondary sector (including industries and 7.5 per cent in the tertiary sector.

The preliminary estimates of the state income (net state domestic product) of Maharashtra at current prices for the year 1998-99 was Rs 2,138.60 billion and the per capital income to be Rs 23,849.

At constant prices the state income in 1998-99 was estimated at Rs 1,454.20 billion as against Rs 1,323.42 billion in 1997-98.

Painting a rosy picture about the industrial scenario, the Survey presented to the Maharashtra Legislative Assembly by housing minister Rohidas Patil and in the Upper House by minister of state for finance and planning by Vasudha Deshmukh, states that in the first nine months of the current financial year 1999-2000, the industrial production (manufacturing) during the period is expected to register an increase of about 6.9 per cent. As against 5.4 per cent in 1998-99.

In the current year, the food grains production is expected at 12.05 million tonnes, a decrease of 5.7 per cent. The cotton production is expected to increase by 9.7 per cent and would be around 4,90,000 tonnes. The oil seeds production is expected to decrease by 6.5 per cent and would be 2.44 million tonnes.

Sugarcane production is expected to increase significantly by 18.3 per cent and would attain a new peak at 55.8 million tonnes.

The estimated milk production in the state in 1998-99 was 5.61 million tonnes which is 8.0 per cent more than the estimated production of 5.19 million tonnes in 1997-98.

The estimated egg production in 1998-99 was 2.94 billion showing an increase of 6.1 per cent over the production of 2.77 billion in 1997-98. The estimated meat production was 2,03,000 tonnes in 1998-99 which was more by 2 per cent than the production of 1,99,000 tonnes in 1997-98.

During 1999-2000 up to February 2000, the generation of electricity was 57,427 million kwh which was 9.2 per cent higher than that in the corresponding period of 1998-99. The Survey also informs that during the period the peak demand of 11,367 mw was met with 1,082 mw load-shedding.

The total generation of electricity during 1998-99 was 57,973 million kwh and was higher by 4.7 per cent than that in the previous year. The overall electricity consumption in 1998-99 was 51,695 million kwh and was higher by 4.1 per cent than that in the previous year.

UNI

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