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  Business   Economy  18 Mar 2017  Maha economy likely to grow by 9.4 pc in 2016-17: Eco survey

Maha economy likely to grow by 9.4 pc in 2016-17: Eco survey

PTI
Published : Mar 18, 2017, 4:53 pm IST
Updated : Mar 18, 2017, 4:53 pm IST

Economic Survey was presented by State Finance Minister Sudhir Mungantiwar in the Legislative Assembly.

Maharashtra Finance Minister Sudhir Mungantiwar.
 Maharashtra Finance Minister Sudhir Mungantiwar.

Mumbai: Maharashtra's economy is expected to grow by 9.4 per cent in 2016-17 over the previous year, according to the Economic Survey for 2016-17 presented in the State Legislature here today.

The Economic Survey was presented by State Finance Minister Sudhir Mungantiwar in the Legislative Assembly, while in Legislative Council it was tabled by Minister of State for Finance Deepak Kesarkar.

 

The survey stated that agriculture and allied activities sector is likely to grow by 12.5 per cent. According to the report, the state witnessed good rains (94.9 per cent) of 'normal rainfall' during 2016-17 after a dry spell of two years. Out of 355 talukas, excluding Mumbai city and suburbs, 58 talukas received deficient, 216 normal and 81 talukas received excess rainfall.

During 2016 Kharif season, sowing was completed under 152.12 lakh hectares and the production of cereals, pulses, oil seeds, and cotton is expected to increase by 80 per cent, 187 per cent, 142 per cent and 83 per cent, respectively in 2016-17.

Production of sugarcane is projected to drop by 28 per cent against the previous year. The area under Rabi crop in 2016 stood at 51.31 lakh hectares. Production of cereals, pulses and oil seeds is expected to increase by 62 per cent, 90 per cent and 36 per cent, respectively.

 

Industry and services sectors are expected to grow at 6.7 per cent and 10.8 per cent, respectively. The expected revenue receipts for 2016-17 are Rs
2,20,810 crore as against Rs 1,98,321 crore during 2015-16, the survey stated.

The actual revenue receipts during April to December 2016 were Rs 1,40,864 crore, an increase of 11.4 per cent over the corresponding period of the previous year, the survey said.

The expected revenue expenditure of the state is Rs 2,24,455 crore in 2016-17 as against Rs 2,07,611 crore during 2015-16. Under the Jalyukt Shivar Yojana, out of 6,202 villages in the state selected in 2015-16, 4,374 villages were made
water neutral. During 2016-17, 5,281 villages were selected.

 

Tags: maharashtra economy, maharashtra economic survey 2017, sudhir mungantiwar
Location: India, Maharashtra, Mumbai (Bombay)