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Maharashtra economy on a recovery path: Survey

Painting a rosy picture of Maharashtra's economic situation, the state's economic survey on Friday claimed that the gross state domestic product was expected to grow at the rate of six per cent during 2001-02 as against 2.7 per cent the previous fiscal.

The state economy is expected to grow at a high rate of 6 per cent during 2001-02, which is more than that of the country's 5.4 per cent, the economic survey report tabled in the state legislative assembly by Minister of State for Finance Rajendra Darda said.

However, the state may not be able to achieve the target fixed to reduce fiscal deficit from 3.6 per cent in 2000-01 to 2.7 per cent of the GDP for this fiscal due to slump in the tax collection by the state, the survey said.

The primary sector, comprising agriculture and allied activities, was expected to grow at 5.1 per cent as against the negative growth recorded last year, it said.

However, the secondary sector, including the industries, are expected to grow at a slower rate at 3.9 per cent as compared to 5.6 per cent during 2000-01.

The tertiary sector is expected to perform better with the growth rate of 7.6 per cent, the survey report said.

Later, the survey was tabled in the Upper House by Darda.

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