Maharashtra records slowest GSDP growth among India’s four big economies

Despite maintaining its position as the largest state economy in India Maharashtra has recorded the slowest economic growth among the countryrsquos four biggest states over the past four years the PTI reportedAccording to official estimates the statersquos Gross State Domestic Product GSDP is projected to reach Rs 4267771 crore in 202425 However in percentage terms its economic expansion has lagged behind Karnataka Gujarat and Tamil Nadu during the postpandemic periodBetween 202122 and 202425 Maharashtrarsquos GSDP grew by nearly 43 per cent While the increase is substantial in absolute terms it remains the lowest growth rate among the four leading state economies as per the PTIIn contrast Karnataka recorded the fastest expansion during this period with its GSDP increasing by nearly 65 per centKarnatakarsquos technology sector drives expansionKarnatakarsquos GSDP rose from Rs 1702227 crore in 202122 to a projected Rs 2809063 crore in 202425The statersquos rapid economic growth has largely been driven by the technology and services sectors centred in Bengaluru which has become a major hub for global IT companies and startupsGujarat and Tamil Nadu also register strong growthGujarat recorded the secondfastest growth among the four states with its economy expanding by nearly 48 per cent Its GSDP increased from Rs 1879826 crore in 202122 to Rs 2790000 crore in 202425 supported by a strong industrial and manufacturing base as per the PTIMeanwhile Tamil Nadu registered growth of around 47 per cent during the same period Its GSDP rose from Rs 2136351 crore in 202122 to Rs 3155096 crore in 202425 making it the closest competitor to Maharashtra in overall economic sizeMaharashtra adds highest absolute valueEven though its percentage growth is lower Maharashtra recorded the largest increase in absolute terms among the four statesThe statersquos GSDP grew from Rs 2981024 crore in 202122 to Rs 4267771 crore in 202425 adding nearly Rs 1286 lakh crore to its economy according to the PTIThis expansion keeps Maharashtra significantly ahead of its peersBased on current projections Maharashtrarsquos economy remains more than Rs 11 lakh crore larger than Tamil NadursquosIt is also over Rs 14 lakh crore ahead of Gujarat and more than Rs 15 lakh crore larger than KarnatakaThe four states mdash Maharashtra Tamil Nadu Karnataka and Gujarat mdash are widely considered the primary drivers of Indiarsquos economic growthExperts say the strong growth in Karnataka Gujarat and Tamil Nadu has been driven by major investments and the rise of local businesses including startups the news agency reportedWhile Maharashtra has also attracted investments during the same period analysts suggest that the full impact of these investments has not yet been reflected in the statersquos GSDP growth figureswith PTI inputs