Maharashtra aims at $1 trillion economy by 2025: CM Devendra Fadnavis


Mumbai, Feb 20 (TOI): Maharashtra’s economy must grow at the rate of 15.4% annually to become a $1 trillion economy (Rs 65 lakh crore at current exchange rate) by 2025, compared to its current growth rate of 9.4%, chief minister Devendra Fadnavis said.

He also said that he is working to transform the state’s economy into mainly a services driven one from the current mix of manufacturingcum-services driven. And for this, Fadnavis wants to focus more on a digital-enterprise driven administration-cumservices and also impart skills to about 50 lakh youth in the next eight years to be employed in the services sector. If the state’s economy continues to grow at the current annual rate, it would only be in 2029 that the $1 trillion target would be achieved, the CM said. Fadnavis was speaking at the Magnetic Maharashtra global investor summit in the city. Currently, the state’s economy is nearly $400 billion (Rs 26 lakh crore).

To achieve the targeted double-digit growth rate, the services sector has to take the lead with an estimated growth rate of 15.5% annually while the manufacturing sector should grow at 12.3% and the agriculture sector at 5.5% rate, he said. Fadnavis also said that by 2025, the share of services in the state’s economy should be about 67% from 59% now, industry’s should dip to 27% from 30% while the agricultural sector’s share should nearly halve to 6% from 11% at present. He said that the agriculture and industry sectors at present are showing positive growth, but some more acceleration is required in the services sector.

Fadnavis said that though agriculture’s share in the state GDP is only 11%, it employs nearly half of the workforce and there was hardly any more scope for it to absorb more people productively.

  

Top Stories

Comment on this article

  • Flavian dsouza, chik/bengaluru

    Tue, Feb 20 2018

    Sir
    Trillion economy is good but
    Ensure social justice - one rich man having 28 floors and in one floor 28 staying and in some places 28 families living under the bridge or sleeping near railways tracks is no good and not called progress at all ..

    DisAgree Agree [4] Reply Report Abuse


Leave a Comment

Title: Maharashtra aims at $1 trillion economy by 2025: CM Devendra Fadnavis



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.