Maharashtra's Challenge: A Vision for a Trillion-Dollar Economy

Maharashtra's ambitious vision to transform into a one trillion dollar economy within five years faces significant hurdles. These challenges, highlighted in a report presented to the 16th Finance Commission, include uneven regional development, heavy dependence on Mumbai, and low agricultural productivity.

The Konkan division contributes 39% to the state's GSVA, with Mumbai alone accounting for 20%. Meanwhile, regions like Amravati contribute merely 5.8%, exposing economic disparities. Additionally, demographic changes and climate issues complicate economic progress.

With agriculture engaging 53% of the workforce but contributing only 13% to the GSDP, the report calls for strengthening this sector to boost growth. The urban sector requires enhanced investments to meet the demands of rapid city expansions, while rural districts suffer from healthcare inadequacies and shifting demographics.

(With inputs from agencies.)