New Delhi. Voting will take place in Maharashtra and Jharkhand tomorrow on 20th November. Voting will take place on all seats in Maharashtra in a single phase. At the same time, this is the second phase of voting in Jharkhand. The first phase of voting took place on 13 November. If the economy of both the states is compared, there is no competition between the two. On the economic front, Maharashtra is far ahead of Jharkhand. Despite having abundant natural resources, Jharkhand has not been able to progress as it should have.
According to the Maharashtra Economic Survey report, the state’s economy grew at the rate of 7.6 percent in the financial year 2023-24. According to the Economic Survey, the state’s Gross State Domestic Product (GSDP) at current prices for 2023-24 stood at Rs 40,44,251 crore. In Budget 2024, the Gross State Domestic Product (GSDP) of Maharashtra for the financial year 2024-25 is estimated to be Rs 42,67,771 crore. This is 5.5% more than the revised estimates for 2023-24. Maharashtra’s contribution to the country’s gross domestic product (GDP) is the highest. The state’s average share in GDP was the highest at 13.9 percent.
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Fifth place in per capita income
According to Maharashtra Economic Survey 2023-24, the state ranks sixth in the country in per capita income. In the last financial year, the per capita income in Maharashtra was Rs 2,52,389 annually. In the previous financial year it was Rs 2,19,573. According to the Economic Survey report, Maharashtra remains at the top in terms of FDI inflow in the country. During the financial year 2022-23, Maharashtra’s share in the country’s total exports was 16 percent. Maharashtra contributes 20 percent to the national industrial production. From April 2023 to March 2024, Maharashtra exported goods worth $67.21 billion.
Maharashtra is at number one in the country in direct tax collection. That means Maharashtra pays the highest tax in the country. In the last financial year, direct tax of Rs 7.62 lakh crore (Rs 7,61,716.30 crore) came from Maharashtra. Maharashtra’s contribution to the total direct tax collection of the country was 39%.
What is the financial condition of Jharkhand?
According to Jharkhand’s Budget 2024, the Gross State Domestic Product (GSDP) of Jharkhand for the financial year 2024-25 is estimated to be Rs 4,70,104 crore. This shows an increase of 9.8% compared to 2023-24. Jharkhand’s contribution to the country’s GDP is less than two percent. Per capita income in Jharkhand has seen a slight improvement in the last few years. However, it is still far behind compared to other states and the national figure of per capita income. The per capita income at constant prices in the state in 2022-23 has been recorded at Rs 60,033. Jharkhand currently ranks 25th in this category in the list of 28 states of the country.
Jharkhand has 40 percent mineral resources
Jharkhand has about 40 percent of the total mineral resources of the country. Jharkhand’s contribution to the total steel production in India is about 25 percent. Jharkhand is the only state in India that produces coking coal, uranium and pyrite. With 26% of total iron ore (hematite) reserves, Jharkhand ranks second among the states. Foreign direct investment (FDI) inflow into Jharkhand between October 2019-March 2024 stood at US $ 2.66 billion.
Tags: Indian economy, Jharkhand news, Maharashtra news
FIRST PUBLISHED: November 19, 2024, 14:16 IST
