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Rediff News  All News  » Business » Survey pegs Maharashtra's GSDP at 4%

Survey pegs Maharashtra's GSDP at 4%

March 20, 2003 14:42 IST

Maharashtra's economic survey for 2002-03 says the state's economy was expected to grow at a lower rate of four per cent as against 6.8 per cent in the previous fiscal.

The state's gross domestic product would be affected badly by deficient rainfall in most parts of Maharashtra.

The primary sector including agriculture and allied activities was expected to shrink by 9.1 per cent due to estimated 18 per cent fall in food production, says the survey, which was tabled by parliamentary affairs minister Patangrao Kadam in the Lower House in Mumbai on Thursday.

However, the secondary sector including the industry was likely to grow at 4.9 per cent in the current fiscal and the tertiary sector was expected to grow at higher rate of 7.3 per cent.

The inflation in the state has been low, it says. For the nine months in 2002-03, the price rise in Maharashtra was comparatively at lower level compared to the all India level.

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