It expects the per capita income to rise to Rs 268,000 in 2020 and Rs 600,000 in 2030 from Rs 1,47,399
The Maharashtra government has set an ambitious target of 10.5% growth in 2020 and 12% in 2030 from the present level of 9.4%.
Further, the government in its Vision 2030, which was discussed on Thursday at a marathon meeting chaired the planning and finance minister Sudhir Mungantiwar, hoped that the gross state domestic product (GSDP) at current prices will rise to Rs 30 lakh crore in 2020 and Rs 86 lakh crore in 2030 from Rs 22.7 lakh crore now. It expected the per capita income (PCI) to rise to Rs 268,000 in 2020 and Rs 600,000 in 2030 from Rs 1,47,399.
Further, it expected agriculture and allied activities sector to grow at 5%, industry sector at 12%, services sector at 15% and 30% of the share in GSDP for manufacturing sector by 2030.
The government admitted that its debt stock of Rs 4.13 lakh crore (2017-17 BE) forced the diversion of a large amount of revenue towards interest payment and repayment of the debt.
Though debt and fiscal deficit of the state are well within the limits and the state has not exceeded the borrowing limits for last several years, the provision required for the target achievement is going to put some burden on the financial status of the state.
A state finance department official, who were present at the meeting, told DNA Money, "Today's meeting was organised to sensitise all departments about the milestones to be achieved envisaged in the Vision 2030 document. Although Maharashtra is one of the affluent states in India, it is facing several challenges and they have to be effectively tackled to achieve 'sustainable, equitable and balanced economic growth' by 2030.''
The official said Maharashtra is an urbanised and industrialised state, and to sustain its industrial and agricultural output environment forms the bedrock of its strategy.
During the last decade, year on year growth in agriculture and allied activities was negative for six years, especially after the rainfall pattern underwent unfavourable changes. As a consequence, the overall growth rate of agriculture income was zero to negative. "The government hopes to double farmers' income by 2022 to Rs 2 lakh and improve yield for cereals at 1,650 kg per hectare, for pulses 910 kg per hectare, for oilseeds 1,500 kg per hectare and for cotton 360 kg per hectare by 2030,'' the official said.
As far as industry and services sectors are concerned, the government proposes to make available land and world class industrial infrastructure to entrepreneurs by developing new industrial estates, grant all approvals in the timebound manner through a single interface, create an enabling ecosystem to promote the start-ups and achieve at least 40% of FDI inflow share in India. The government will focus on automobile & auto component, electronic system design & manufacturing, textiles & readymade garments, defence, logistics and food processing in order to achieve a balanced regional development across the state by introducing reforms to increase share of lesser developed regions.
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