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Economy of Maharashtra

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Economy of Maharashtra

Year Gross Domestic Product (millions of INR)
1980 166,310
1985 296,160
1990 644,330
1995 1,578,180
2000 2,386,720
2005 3,759,150[1]
2011 9,013,300

Maharashtra's gross state domestic product for 2011 is estimated at 9013 billion (US$150 billion) in current prices. As of 2010 Maharashtra had a Per Capita Income of $1,660, far ahead of national average of $1,219 . Maharashtra's GDP Per Capita crossed the US$2,000 threshold for the first time in 2011 making it one of the richest states in India. Maharashtra is third-most urbanised state with urban population of 45% of whole population.
Mumbai, the capital of Maharashtra houses the headquarters of almost all major banks, financial institutions, insurance companies and mutual funds. India's largest stock exchange Bombay Stock Exchange, oldest in Asia, is located in the city. After successes in the information technology in the neighbouring states, Maharashtra has set up software parks in Pune, Mumbai, Navi Mumbai, Nagpur and Nasik, Aurangabad and Latur. Maharashtra is the second largest exporter of software with annual exports of 18 000 cr and accounts for more than 30 per cent of the country's software exports, with over 1,200 software units based in the state.[2] Maharashtra ranks first nationwide in coal-based thermal electricity as well as nuclear electricity generation with national market shares of over 13% and 17% respectively. Maharashtra is also introducing Jatropha cultivation and has started a project for the identification of suitable sites for Jatropha plantations.[3] Ralegaon Siddhi is a village in Ahmednagar District that is considered a model of environmental conservation. [4] Over 41% of the S&P CNX 500 conglomerates have corporate offices in Maharashtra. Latur is the fastest growing city in Asia & 2nd fastest in world rated by forbes

Contents

  • Industry 1
  • Agriculture 2
  • See also 3
  • References 4

Industry

Maharashtra is India's leading industrial state contributing 13% of national industrial output. 64.14% of the people are employed in agriculture and allied activities. Almost 46% of the GSDP is contributed by industry.
Maharashtra has had an immense History in textiles and Mumbai city was the original home of India's textile mills. Today some of the city's known for textile industry Solapur, Ichalkaranji, Malegaon and Bhiwandi.
Sugar industry has made considerable progress specially in the co-operative sector. Maharashtra is well known for the development of sugar industry on co-operative lines in which the farmers acquire a share in the sugar mills. Pharmaceuticals, petrochemicals, heavy chemicals, electronics, automobiles, engineering, food processing, and plastics are some of the major industries of the state. Maharashtra is renowned for the production of three-wheelers, jeeps, commercial vehicles and cars, synthetic fibers, cold rolled products and industrial alcohol. Small scale industries have also come up in a big way in the state. The state capital Mumbai is called as an industrial city. Industrial development in the state is largely concentrated in the Mumbai Metropolitan Region, Pune - Pimpri - Chinchwad - Chakan, Nashik, Aurangabad and Nagpur. The six important industries in the state are cotton textiles, chemicals, machinery, electricals, transport and metallurgy.[5] Pune is emerging as one of the largest automobile hubs in the country.

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Agriculture

Sorghum farm at Chinawal village in Maharashtra

Although Maharashtra is a highly industrialized state of India, agriculture continues to be the main occupation of the state. Principal crops include rice, jowar, bajra, wheat, pulses, turmeric, onions, cotton, sugarcane and several oil seeds including groundnut, sunflower and soyabean. The state has huge areas, under fruit cultivation of which mangoes, bananas, grapes, and oranges are the main ones. Irrigation facilities are being extended so that agriculture could be made less dependent upon rain water. The net irrigated area totals 33,500 square kilometres.

See also

References

  1. ^ Maharashtra economy soars to $85b by 2005
  2. ^ http://www.ibef.org/download/Maharashtra_060710.pdf
  3. ^ "Identification of suitable sites for Jatropha plantation in Maharashtra using remote sensing and GIS". University of Pune. Retrieved 15 November 2006. 
  4. ^ "A model Indian village- Ralegaon Siddhi". Retrieved 30 October 2006. 
  5. ^ Economy of Maharashtra @ webindia.com Suni System (P) Ltd. Retrieved on 20 June 2007
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