Maharashtra to grow at 8.6% in FY10

The Gross State Domestic Product (GSDP) of Maharashtra is expected to grow at 8.6 per cent during the year 2009-10 as against 3.4 per cent during the previous year, an economic survey said.

Agriculture and allied activities are expected to grow by 1.8 per cent during 2009-10 as against negative growth of 19.3 per cent in the earlier year, states the Economic Survey of Maharashtra 2009-10 which was tabled in the Legislature on Tuesday.

The industry sector, still facing impact of recession is expected to grow moderately by 7.0 per cent.

However, the services sector is expected to maintain the growth momentum and is likely to grow by 10.4 per cent during the year.

According to the report, the state received 82 per cent of the normal rainfall during 2009. Dry spells from the last week of July to third week of August and second and fourth week of September observed in most parts of the state hampered the growth of kharif crops. During October, the state received unseasonal rains by cyclone (Phyan).

As a preliminary forecast, the food grains production for kharif, rabi and summer season in the state during 2009-10 is estimated to be 121.28 lakh metric tonne, an increase of eight per cent as compared to the previous year.

The production of oil seeds (29.28 lakh metric tonne) is expected to increase by 18 per cent, whereas production of sugarcane (540.46 lakh metric tonne) is expected to decrease by 11 per cent as compared to the last year.