Maharashtra has been crowned as India’s richest state, according to a report released by credit rating company. The report assessed the performance of states across financial and social indicators, and found that Maharashtra was the best performer in the country.
Maharashtra has the highest Gross State Domestic Product (GSDP) in India, at $368 billion in 2019-20. This is more than double the GSDP of the second-richest state, Tamil Nadu, which stands at $179 billion. The state’s per capita income is also the highest in the country, at $3,735.
Maharashtra’s economy is driven by its large and diverse industrial base. The state is home to some of India’s largest companies, including Reliance Industries, Tata Motors, Mahindra & Mahindra, and Hindustan Unilever. It is also a major hub for the IT and financial services sectors, and has a thriving manufacturing sector.
Maharashtra’s economic success is also reflected in its human development indicators. The state has the highest literacy rate in India, at 91.3%, and the highest female literacy rate, at 87.7%. It also has the highest number of people with access to improved sanitation facilities, at 97.5%.
Maharashtra’s economic success has been attributed to its sound economic policies, which have encouraged investment and growth. The state has also invested heavily in infrastructure, which has helped to attract businesses and create jobs.
Maharashtra’s economic success has been beneficial for the entire country. The state contributes significantly to India’s GDP, and its success has been a major factor in India’s overall economic growth.
Maharashtra’s economic success is a testament to the state’s sound economic policies and its commitment to creating a business-friendly environment. The state’s success is a model for other states to follow, and its example shows that economic growth and human development can go hand in hand.