Maharashra likely to post negative 8 per cent growth in FY’21

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The Economic Survey of Maharashtra (ESM) report, which was tabled in the Maharashtra Legislative Assembly on Friday, has said the State’s economy for fiscal 2020-21 is expected to post a negative growth of 8.0 per cent as the per advanceestimates.

Due to the COVID pandemic the industrial growth is also in the red with a negative 11.3 per cent growth while services sector at a negative 9.0 per cent growth. The only saving grace is agriculture and allied activities, which grew by 11.7 per cent.
 

The report said that the State received 113.4 per cent of the normal rainfall during monsoon 2020. Out of 355 talukas (excluding taluka in Mumbai City and Mumbai suburban districts), 139 talukas received excess rainfall, 173 received normal and 43 received deficient rainfall. During Kharif season of 2020-21, sowing was completed on 156.89 lakh hectare. The production of cereals, pulses, oilseeds, cotton and sugarcane is expected to increase by 60 per cent, 14 per cent, 28 per cent, 33 per cent and 40 per cent respectively over the previous year,

During Rabi season 2020-21, by the end of December sowing was completed on 53.64 lakh hectares. The production of cereals and pulses is expected to increase by one per cent and 12 per cent respectively while production of oilseeds is expected to decrease by 18 per cent over the previous year, the report said.