Agri down, but in­dus­try, ser­vices to spur state’s growth this year

Hindustan Times ST (Mumbai) - HT Navi Mumbai Live - - FRONT PAGE - Ke­taki Ghoge ke­taki.ghoge@hin­dus­tan­times.com

The state’s econ­omy is ex­pected to do bet­ter this year, with the Maharashtra Eco­nomic Sur­vey for 2015-16 pre­dict­ing a re­spectable 8% growth rate - up from the 5.8% in 2014-15.

The sur­vey cred­its growth in the in­dus­try and ser­vices sec­tor for the over­all jump, de­spite a poor mon­soon and plum­met­ing agri­cul­ture growth.

The es­ti­mated growth for the agri­cul­tural sec­tor (just crops) is a neg­a­tive 5.3% for this year, while growth of agri­cul­ture and al­lied sec­tors, (fish­eries, live­stock and crops) for this year is a neg­a­tive 2.7%.The sur­vey pre­dicts a de­cline in food­grains too this year — a neg­a­tive 18% for khar­iff crops, a neg­a­tive 27% for rabi and neg­a­tive 50% for oil seeds. The neg­a­tive growth for food­grains is based on the re­duced area be­ing cul­ti­vated and a rain­fall deficit of 59.4 % in the state last year.

CON­TIN­UED ON P10

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