Maharashtra's GSDP to be over 8% in 2013-14

MUMBAI: Maharashtra's Gross State Domestic Product ( GSDP) is estimated to have grown at 8.7 per cent in 2013-14 with agriculture showing remarkable turnaround, as per the state Economic Survey tabled in the Legislature here today.

The Agriculture and allied activities sector in Maharashtra is expected to show a grow of 4 per cent. During 2012-13, its growth rate was (-)1.0 per cent.

The growth in Industry sector in 2013-14 is seen at 8.8 per cent and that of the services sector, at 9.3 per cent.

The tentative estimates of 2013-14 indicate increase in production of foodgrains, oil seeds and cotton by 38 per cent, 5 per cent and 11 per cent respectively over the previous financial year.

"It is mainly due to satisfactory rainfall received during the sowing period and vegetative growth stage of Kharif crops in all parts of the state," the survey said.

By the end of June 2012, the total irrigation potential created was 49.26 lakh hectare of which 27.19 lakh hectare was from major irrigation projects, 8.67 lakh hectare was from medium irrigation projects and remaining 13.40 lakh hectare was from minor irrigation projects.

Due to insufficient rainfall in 2012-13, Maharashtra had faced a severe drought situation. Live storage of water was required to be reserved for drinking purposes due to which there was a decrease in total irrigation potential utilised during 2012-13.

The total rainfall in the state during 2013 was 124.6 per cent of the normal rainfall. Out of 355 talukas, excluding Mumbai, 186 talukas received excess, 153 received normal and 16 talukas received deficient rainfall.