Maharashtra economy to grow at 7.9% in FY26, services sector to lead

Maharashtra's economy is forecast to grow at 7.9% in 2025-26, driven by the services and industrial sectors, according to the state's Economic Survey. Per capita income is projected to rise, but agriculture growth is set to decline.

Maharashtra's economy is expected to grow at 7.9 per cent in 2025-26, up from 7.3 per cent in 2024-25, according to the Economic Survey of Maharashtra 2025-26 tabled in the State Assembly on Thursday. The survey projects steady expansion driven mainly by the services and industrial sectors, while the state continues to maintain its position as one of the country's largest economic contributors.

Sectoral Growth Projections

As per advance estimates, the services sector is expected to grow by 9 per cent in 2025-26, compared with 8.3 per cent in 2024-25, while the industry sector is projected to grow by 5.7 per cent, up from 4.3 per cent in the previous year. However, agriculture and allied activities are expected to grow by 3.4 per cent, lower than the 9.1 per cent growth recorded in 2024-25.

Per Capita Income and Fiscal Health

The survey also estimates that per capita state income will rise to Rs 3,47,903 in 2025-26 from Rs 3,17,800 in 2024-25. Meanwhile, the state's fiscal deficit is projected at 2.7 per cent of GSDP and debt stock at 18.3 per cent of GSDP for the year.

National Economic Dominance

Maharashtra continues to hold a dominant economic position nationally, accounting for the highest share of India's GDP at 14.3 per cent among states. It also ranks first in FDI inflows, start-ups, GST collections, bank deposits and bank credit, according to the survey. The state also ranks first in foreign tourist visits and has received national gold awards under the One District One Product (ODOP) initiative, including for Ratnagiri's Alphonso mango in agriculture.

Social Development Indicators

Meanwhile, social indicators show Maharashtra performing better than the national average on several parameters such as infant mortality rate, maternal mortality ratio and total fertility rate, as per data cited in the survey.

The Economic Survey provides an overview of the state's economic performance, sectoral trends and key development indicators ahead of the presentation of the state budget. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)