The survey said the debt stock currently stood at Rs 7,82,991 crore as per budget estimates, while interest due was Rs 56,727 crore
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The debt stock of Maharashtra is expected to increase by 10.1 per cent over the previous year and will stand at 17.3 per cent of the Gross State Domestic Product (GSDP), which will be within fiscal and budgetary norms, as per the economic survey tabled in the state legislature on Friday.
Debt stock of 17.3 per cent will be within the prescribed limit of 25 per cent of GSDP, it said.
The survey said the debt stock currently stood at Rs 7,82,991 crore as per budget estimates, while interest due was Rs 56,727 crore.
The major contributor of total debt stock, at 81.4 per cent, is internal debt, which is expected to be Rs 6,37,141 crore, while the revenue deficit, fiscal deficit and primary deficit are expected to be Rs 20,051 crore (0.4 per cent of GSDP), Rs 1,10,355 crore (2.4 per cent of GSDP) and Rs 53,628 crore (1.2 per cent of GSDP), respectively.
The survey said the state was adhering to the Maharashtra Fiscal Responsibility & Budgetary Management (MFRBM) Rules 2006 on fiscal consolidation.
Maharashtra's economy is expected to grow at 7.3 per cent as per the advance estimates of 2024-25, said the government's pre-Budget Economic Survey tabled in the assembly on Friday.
The projected growth is more than that of the country's economy which is expected to expand by 6.5 per cent in the current fiscal, as per the survey report.
The Economic Survey was tabled by Deputy Chief Minister Ajit Pawar, who holds the finance portfolio.
In the financial year 2024-25, agriculture and allied activities, industry and services sectors are expected to grow at 8.7 per cent, 4.9 per cent and 7.8 per cent, respectively, it said.
Maharashtra leads the list of top 10 states in nominal GSDP during 2023-24, the survey said. It is followed by Tamil Nadu, Uttar Pradesh, Karnataka, Gujarat, West Bengal, Rajasthan, Telangana, Andhra Pradesh, and Madhya Pradesh.
Maharashtra's per capita income (Rs 2,78,681) is less than that of Tamil Nadu (Rs 3,15,220), Karnataka's Rs 3,32,926 and Gujarat's Rs 2,97,722.
During 2024-25, agriculture and allied activities are expected to grow at 8.7 per cent.
In the kharif season of 2024-25, sowing was completed in 157.59 lakh hectares of area. The production of cereals, pulses, oilseeds and cotton is expected to increase by 49.2 per cent, 48.1 per cent, 26.9 per cent and 10.8 per cent respectively, it said.
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