The Economic Survey of Maharashtra 2025–26 presents a strong outlook for the state economy, projecting 7.9% economic growth, which is higher than the national growth estimate of 7.4%.
Maharashtra continues to remain India’s largest state economy, with a projected Gross State Domestic Product (GSDP) of ₹42.67 lakh crore in 2024–25 and an expected nominal GSDP of ₹51 lakh crore ($615 billion).
Despite its economic dominance, Maharashtra recorded the slowest growth among the four largest state economies between 2021–22 and 2024–25, with expansion of around 43%, compared with higher growth in Karnataka, Gujarat, and Tamil Nadu.
Macro-Economic Indicators
| Indicator | Data |
| GSDP Growth (2025–26) | 7.9% |
| Previous Year Growth | 7.3% |
| Nominal GSDP | ₹51 lakh crore ($615 billion) |
| Share in National GDP | 14.3% |
| Per Capita Income | ₹3,47,903 |
| Previous Year PCI | ₹3.17 lakh |
| National Average PCI | ₹2.19 lakh |
| Fiscal Deficit | 2.7% of GSDP |
| FRBM Limit | 3% |
| Debt Stock | 18.3% of GSDP |
| Total State Debt | ~₹9.32 lakh crore |
Vision Targets
- $1 trillion state economy by 2030
- $5 trillion economy by 2047
Sectoral Performance
| Sector | Growth Rate | Contribution / Key Notes |
| Services | 9% | Contributes ~64% of state economy |
| Industry | 5.7% | Driven by manufacturing and infrastructure |
| Agriculture & Allied | 3.4% | Lower than 9.1% last year due to crop damage and normalization |
The services sector remains the primary growth driver in Maharashtra.
Investment and Infrastructure
Foreign Direct Investment (FDI)
- Maharashtra attracts 31% of India’s total FDI inflows (Oct 2019 – Mar 2025).
- Maintains position as India’s top FDI destination.
Major Infrastructure Projects
| Project | Description |
| Mumbai Metropolitan Region Development | Planned as an International Economic Growth Hub with 7 commercial centres |
| Mumbai–Pune Expressway Missing Link | Major connectivity upgrade |
| Metro Expansion | Mumbai, Nagpur and Pune metro lines |
| Vadhavan Port Corridor | New logistics and port connectivity project |
| Renewable Energy Capacity | Increased to 14,113 MW |
Social and Employment Indicators
Labour Market
| Indicator | Data |
| Unemployment Rate (2023–24) | 3.3% |
| Urban Unemployment | 5.2% |
| Rural Unemployment | 2.1% |
| Labour Force Participation Rate | 59% |
MSME Sector
| Indicator | Data |
| Registered MSME Units | 63.85 lakh |
| Employment Generated | 2.53 crore people |
Gig Economy
- Gig workers currently represent 2% of workforce.
- Expected to rise to 6.7% by 2029–30.
Social Welfare & Safety Nets
Ladki Bahin Yojana
| Indicator | Data |
| Women Beneficiaries | 2.53 crore |
| Funds Distributed | ₹33,232 crore |
| Allocation for 2025–26 | ₹36,000 crore |
Food Security
| Scheme | Details |
| Public Distribution System | Covers 2.71 crore ration card holders |
| Aadhaar Biometric Authentication | Used by 1.55 crore families |
| Shivbhojan Scheme | 4.09 crore subsidised meals distributed through 1,874 centres (till Nov 2025) |
Housing
Under Pradhan Mantri Awas Yojana (PMAY):
| Category | Houses Completed |
| Urban | 8.75 lakh |
| Rural | 16.05 lakh |
Health and Education Indicators
Health
| Indicator | Data |
| Infant Mortality Rate | 14 per 1,000 live births |
| Government Hospitals | 528 |
| Hospital Beds | 73 beds per lakh population |
The survey indicates the need for expansion of healthcare infrastructure.
Education
| Indicator | Data |
| Primary Schools | 1.04 lakh |
| Primary Students | 1.45 crore |
| Secondary Schools | 29,641 |
| Secondary Students | 63.6 lakh |
| Universities | 87 |
| Colleges | 5,579 |
| Higher Education Enrollment | 45.31 lakh |
Jal Jeevan Mission
| Indicator | Data |
| Rural Households with Tap Water | 90.3% |
| Schools with Tap Water | 98.5% |
Industrial Policy Framework (MIISP 2025)
The survey highlights the Maharashtra Industries, Investment and Services Policy (MIISP) 2025, designed to transform the state’s industrial landscape.
Key Targets
| Indicator | Target |
| Investment | ₹40 lakh crore |
| Jobs | 50 lakh new jobs |
Zonal Incentives
Industrial incentives are distributed across Zones A to D+, with higher subsidies for backward districts.
Thrust Sectors Under MIISP 2025
High incentives (50–100% of project capital) for:
- Electric Vehicles and EV components
- Semiconductors and electronics
- Aerospace and defence manufacturing
- Green hydrogen
- Renewable energy equipment
MSME and Startup Support
| Policy Support | Details |
| Capital Subsidy | 20–40% of Fixed Capital Investment |
| Interest Subsidy | Up to 5% per annum (₹10 million cap) |
| Power Subsidy | ₹1 per unit for three years |
| Startup Share | Maharashtra holds 17% of India’s startups (Feb 2026) |
Infrastructure as Industrial Multiplier
Growth Hubs
- Seven International Economic Growth Hubs planned in the Mumbai Metropolitan Region.
Industrial Corridors
| Project | Role |
| Aurangabad Industrial City (AURIC) | Major manufacturing hub |
| Samruddhi Mahamarg | Logistics corridor attracting ₹2.02 lakh crore investments |
Logistics Policy
- Up to 50% rental assistance for logistics parks.
- 100% electricity duty exemption for warehousing units.
Green Energy & Sustainability
Industrial Power Tariff Reduction
- Tariffs expected to fall from ₹9.45 to ₹9.14 per unit through green energy transition.
Renewable Energy Policy (2025–2035)
| Target | Details |
| Renewable Capacity | 100 GW |
| Energy Storage | Battery Energy Storage Systems (BESS) |
Green Industrial Incentives
- 5-Star GHG Rating System
- Subsidies for industries reducing carbon emissions.
- Incentives for 25% water reuse technologies.