The Maharashtra’s economy as per the advance estimates, is expected to grow by 5.7 per cent in fiscal 2019-20, while the national economy is expected to grow by 5.0 per cent, the Economic Survey of Maharashtra in its latest report has stated.

The report for fiscal 2019-20 was placed in the Maharashtra Assembly on Thursday. The placement of the report is mandatory during the ongoing budget session.

The report said that agriculture and allied activities, industry and services sectors are expected to grow by 3.1 per cent, 3.3 per cent and 7.6 per cent respectively. The average share of the State’s contribution is highest (14.3 per cent) among all the states in all-India nominal GDP.

The per capita State Income for 2018-19 was ₹1,91,736 as against ₹1,75,121 for 2017-18. The percentage of fiscal deficit to GSDP is 2.1 per cent and debt stock to GSDP is 16.4 per cent as per 2019-20, both indicators are within fiscal limits prescribed by the 14th Finance Commission, the report said.

The report also pointed out that as on March 31, 2019 aggregate bank deposits and gross credit of scheduled commercial banks in the State were ₹25.50 lakh crore and ₹27.15 lakh crore respectively. The Credit-Deposit Ratio was 106.5 per cent.

Maharashtra is the leading State in terms of disbursement of loans under Pradhan Mantri MUDRA Yojana. During 2018-19, total loans of ₹25,742 crore were disbursed to 43.86 lakh beneficiaries in the State of which 37.51 lakh were under Shishu, 5.10 lakh under Kishor and 1.25 lakh under Tarun category.

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