Tag: the economy of maharashtra

According to Economic Survey 2018-19, Foreign Direct Investment inflows during 2018-19 in the State was 80,013 crores.

Aurangabad Industrial City (AURIC), a well planned and greenfield smart industrial city based on the concept of walk to work, is being developed across an area of 10,000 acres in the State as a part of Delhi-Mumbai Industrial Corridor.

Maharashtra is the leading State in terms of disbursement of loans under Pradhan Mantri MUDRA Yojana. Rupees 64,984 crores loans were disbursed in the State under Pradhan Mantri MUDRA Yojana from 2016-17 to 2018-19.

The Mumbai FinTech Hub has been established by Government of Maharashtra for implementing Maharashtra State FinTech Policy. Government of Maharashtra has been the first state in India to create a Fintech policy to support the sector with a vision to convert Mumbai into a Global Fintech Hub. It will be set up in Mumbai Metropolitin Region (MMR).

The inputs of modern agriculture are very expensive. This resource-intensive approach has become unmanageable for marginal and small farmers as they have very meagre or no saving to invest in agriculture. To tide over these difficulties, most of such farmers have resorted to availing credit from various institutions and money lenders. Crop failures and low returns from agriculture have forced them to fall in the trap of indebtedness.

A large number of farmers produce crops for self-consumption. These farmers do not have enough land resources to produce more than their requirement. Most of the small and marginal farmers grow food grains, which are meant for their own family consumption. Modernisation and commercialisation of agriculture have however, taken place in the irrigated areas.

Land holding is shrinking further under increasing population pressure. Furthermore, in India, the land holdings are mostly fragmented. Decrease in the average size of landholding leads to low farm productivity. The small size fragmented landholdings are uneconomic.

As per Economic Survey of Maharashtra 2016-17, the share of agriculture and allied activities in the total Gross State Value Added (GSVA) was 12.2 % during 2016-17 against 15.3 % during 2001-02 which shows a declining trend over the period.

Indian peasantry had been exploited for a long time as there had been unequal distribution of land. Among the three revenue systems operational during British period i.e. Mahalwari, Ryotwari and Zamindari, the last one was most exploitative for the peasants. After independence, land reforms were accorded priority, but these reforms were not implemented effectively due to lack of strong political will. Most of the state governments avoided taking politically tough decisions which went against strong political lobbies of landlords. Lack of implementation of land reforms has resulted in continuation of inequitous distribution of cultivable land which is detrimental to agricultural development.