You are using an older browser version. Please use a supported version for the best MSN experience.

Maharashtra’s economy grew 8.7% in FY14

LiveMint logoLiveMint 04-06-2014 Makarand Gadgil

Mumbai: Maharashtra’s economy grew 8.7% in the year ended 31 March, according to the state’s economic survey released on Wednesday. It was 7.1% in the previous fiscal.

A good monsoon helped agriculture grow at 4%, boosting overall growth.

In the previous year, the agriculture sector had registered a negative growth of 1% due to drought, one of the worst seen in the state since 1972.

The manufacturing and services sectors grew at 8.8% and 9.3% respectively during the year.

Within agriculture, the production of food grains, oil seeds and cotton rose by 38%, 5% and 11% respectively over the previous fiscal.

However, the survey omitted details of spending on irrigation—a matter that became controversial last year.

The survey for fiscal 2012 had stated that, despite spending `70,000 crore on irrigation in the previous decade, Maharashtra’s irrigation potential had increased only by 0.1%, causing a political furore.

Opposition parties and civil society activists charged deputy chief minister Ajit Pawar, who was irrigation minister of the state between 2000-2010, with corruption.

More From LiveMint

image beaconimage beaconimage beacon