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Economy
of Maharashtra
Favourable
economic policies in the 1970s led to Maharashtra becoming India's
leading industrial state. However, regions within Maharashtra show
wide disparity in development. Apart from Mumbai, Pune and western
Maharashtra are the most advanced. These areas also dominate the
politics and bureaucracy of the state. This has led to resentment
among backward regions like Vidarbha, Marathwada, and Konkan. There
was a movement in Vidarbha to separate from Maharashtra and become a
separate state largely owing to lack of development and perceived
sense of injustice.
Maharashtra's gross state domestic product for 2004 is estimated at
$106 billion in current prices. Maharastra is second most urbanised
state with urban population of 42% of whole population.
Maharashtra's is India's leading industrial state contributing 13%
of national industrial output. 64.14% of the people are employed in
agriculture and allied activities. Almost 46% of the GSDP is
contributed by industry. Major industries in Maharashtra include
chemical and allied products, electrical and non-electrical
machinery, textiles, petroleum and allied products. Other important
industries include metal products, wine, jewellery, pharmaceuticals,
engineering goods, machine tools, steel and iron castings and
plastic wares. Food crops include mangoes, grapes, bananas, oranges,
wheat, rice, jowar, bajra, and pulses. Cash crops include groundnut,
cotton, sugarcane, turmeric, and tobacco. The net irrigated area
totals 33,500 square kilometres.
Mumbai, the capital of Maharashtra, houses the headquarters of
almost all major banks, financial institutions, insurance companies
and mutual funds in India. India's largest stock exchange Bombay
Stock Exchange, the oldest in Asia, is also located in the city.
After successes in the information technology in the neighbouring
states, Maharashtra has set up software parks in Pune, Mumbai, Navi
Mumbai, Aurangabad, Nagpur and Nasik, Now Maharashtra is the second
largest exporter of software with annual exports of Rs 18 000cr (20%
of India's software exports).
Mumbai is also the centre of India's Hindi film and television
industry (Bollywood).
Maharashtra ranks first nationwide in coal-based thermal electricity
as well as nuclear electricity generation with national market
shares of over 13% and 17% respectively.
Maharashtra is also introducing Jatropha cultivation and has started
a project for the identification of suitable sites for Jatropha
plantations.
Ralegaon Siddhi is a village in Ahmednagar District that is
considered a model of environmental conservation.
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