Maharashtra's growth rate pegged at 7.5%

Maharashtra is expected to grow at 7.5% during 2018-19 despite a whopping debt stock of Rs 4.14 lakh crore, according to the Economic Survey for the same year.

As per the advanced estimates, the Indian economy is expected to grow by 6.8%.

While the agriculture and allied activities are expected to grow by just 0.4% because of deficient rainfall, industries and services sector are expected to grow by 6.9% and 9.2%, respectively.

The debt stock for the state stands at Rs 4,14,417 crore.

The gross state domestic product for 2018-19 is expected to be Rs 26,60,318 crore.

The Economic Survey was tabled in both the Houses of Maharashtra legislature on the opening day of monsoon session and tabling of budget.

State's per capita income is expected to be Rs 1,91,827 in 2018-19 against Rs 1,76,102 in 2017-18, a rise of 8.9%. Maharashtra is ranked third in per capita income growth with Rs 1,91,827 after Karnataka (Rs 2,07,062) and Telangana (Rs 2,06,107).