Maharashtra GDP 2022-23
Maharashtra GDP has been on the rise since 2011. Maharashtra is a state; thus, its GDP is expressed as Gross State Domestic Income (GSDP).
2020-21: 271,168,512 INR
According to the official data from the Reserve Bank of India, the latest Maharashtra GSDP was in 2020-21. Maharashtra GDP was 271,168,512 INR in the year 2020-21. It was lower by 2,286,641 INR compared to the GSDP of this state in the 2019-20 year. This GDP is computed with the year 2011-12 as the base.
2020 was a challenging year for most economies in the world. With the raging Covid-19 pandemic, most jurisdictions enforced lockdowns to control the spread of the virus. India was no exception, and these lockdowns adversely impacted the economy wherever implemented. In the state of Maharashtra, the lockdowns reduced economic activity. With lower economic activity came less productivity from the state ad hence the dip of GSDP.
2019-20: 273,455,153 INR
The GSDP of Maharashtra was at its most recent high in the 2019-20 year. This was the year the state had a GSDP of 273,455,153 INR, taking 2011-12 as the base year. The GSDP was a 6% (16,665,447 INR) increment from 2018-19 to 2019-20.
Maharashtra reaped big from its agricultural sector in this particular year. This was due to the increased arable land in the last five years preceding 2019, as noted in The Indian Express. Increased land under cultivation meant people harvested more staple and cash crops. These foods were partially contributing to this higher GSDP.
2018-19: 256,789,706 INR
In 2018, Maharashtra saw an increase in GSDP from 2017-18 to the 2018-19 financial year. In 2018-19, the GSDP of this state was 256,789,706 INR. The GSDP was computed as the 2011-12 base year. It was an increase of 21,511,556 INR from the previous year. This was an increment of 9%, a good indicator of healthy economic activity.
2017-18: 235,278,150 INR
Maharashtra’s GSDP was 235,278,150 INR in 2017-18, with 2011-12 as the base year. This state’s economy showed upward growth by superseding the previous year’s GSDP with 15,459,635 INR. The 15,459,635 INR increment in GSDP was a 7% rise of GSDP from 2016-17 to the 2017-18 financial year.
2016-17: 219,818,515 INR
The GDSP of the state was 219,818,515 INR in the 2016-17 financial year. Again, this was computed from 2011-12 as the base year. It was a 23,196,057 INR increase in GSDP from the 2015-16’s GSDP. Thus, Maharashtra’s GSDP in 2016 was 12% higher than in 2015.
2015-16: 196,622,458 INR
In 2015, the Maharashtra GSDP was 196,622,458 INR, an 11% increase from 2014-15. The GSDP of the state was 18,708,665 INR higher than in 2014-15. Despite the shortages of rains experienced in Maharashtra in 2015, as noted by IndiaSpend, the city was still able to supersede the 2014-15’s GSDP.
2014-15: 177,913,793 INR
From years 2011 to 2014, the GSDP of the state is computed under two base years; 2011-12 and 2004-05. The GSDP of Maharashtra in 2014-15, with 2011-12 being the base year, was 177,913,793 INR. It was an 8% increase (12,949,130 INR) from the previous year.
Taking 2004-05 as the base year, the GSDP of the state was 168,669,475 INR. This was 5% lower compared to 2014-15’s GSDP, with 2011-12 as the base year.
2013-14: 164,964,663 INR
The GSDP of the state was 164,964,663 INR in the year 2013-14. This was after an increment of 19,001,800 INR from the 2012-13 financial year. The 19,001,800 INR represented a 13% increment in GSDP from the 2012 financial year.
The state’s GSDP in the 2013-14 financial year with the 2004-05 base year was 15,1013,214 INR. This was 8% lower than the GSDP of the state, taking 2011-12 as the base year.
2012-13: 145,962,863 INR
In this financial year, Maharashtra’s GSDP was 145,962,863 INR, 14% higher than 2011-12’s GSDP. The 17,925,919 INR increment of GSDP was the highest recorded from 2011-12 to 202021 financial years.
GSDP of the state with 2004-05 as the base year was 132,222,235 INR. This was 9% lower than the GSDP of the state with the base year 2011-12.
2011-12: 128,036,944 INR
Maharashtra GSDP was 128,036,944 INR in 2011-12, the same year used as the base. However, the state’s GSDP was 9% lower when 2004-05 was the base year. Precisely, the state’s GSDP was 117,012,126 INR, with 2011-12 as the base year.
- Richest State in India by GSDP: Top 20 in 2023
- Richest City in UK by GDP 2023: Top 20
- 20 Examples of Sole Proprietorship Business in The Philippines
- Examples of Monopoly: 20+ Worldwide
Data Source: Reserve Bank of India