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During 1993-94 and 2002-03, Maharashtra's real NSDP increased from US$ 22.6
billion to US$ 34.3 billion, registering a growth rate of 4.7 per cent. The
state's economy grew at a rate of 13.8 per cent in 2004-05.
Note: At 1993-94 prices
Source: Economic Survey of Maharashtra 2004-05
The tertiary sector is the largest contributor to the state's economy. During
1993-94 and 2002-03, the average annual growth rate in the services sector stood
at 7 per cent compared to 2.7 per cent in the industrial sector, thus, making it
the fastest growing sector in the state.
Source: Economic Survey of Maharashtra, 2003–04
Maharashtra is one of the most developed economies in the country. The per
capita income in the state stood at US$ 621 in 2003-04. The penetration of bank
accounts, televisions, phones, two-wheelers and four-wheelers (cars, vans,
jeeps) in urban households stands at 60 per cent, 71 per cent, 27 per cent, 20
per cent and 6 per cent, respectively.
As per the Census 2001, population in the state stood at 96.9 million, second
largest among all states. Population density in the state stood at 315 persons
per sq km in 2001. During 1991-2001, growth rate of population in the state
stood at 22.7 per cent compared to 21.3 per cent at the national level. The
state has one of the highest urbanisation ratios with an urban population of
over 41 million, 42 per cent of the total population compared to the national
average of 27.3 per cent
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