• NAME – VAISHNAVI CHAUDHARY

• CLASS-B.COM
• ROLL NO- KSBCU510
• SUBJECT – ECONOMICS
Business economics

STATE- MAHARASTRA AND

CHANDIGARH.
 STATE NATIONAL INCOME GROWTH RATE TREND

• In terms of growth rates, the National Income registered a growth rate of 7.6
percent in 2019-20 as a
• The National Statistical Office (NSO), Ministry of Statistics and Programme
Implementation, has released the Provisional Estimates of National Income for
the financial year 2020-21, both at Constant (2011-12) and Current Prices against
the previous year's growth rate of 11.3 per cent.
• India's economy expanded 5.4 percent year-on-year in the last quarter of 2021,
following an upwardly revised 8.5 percent advance in the previous period and
below market expectations of 6 percent.
• India's economic growth slowed to 5.4 per cent in the third quarter of 2021-22
but higher than China's GDP expansion of 4 per cent during the same period and
the country retained its position as the world's fastest growing major economy.
• In the current fiscal, GDP growth stood at 20.3 per cent in April-June quarter and
8.5 per cent in July-September period.
• The National Statistical Office (NSO) in its second advance estimates of national accounts
released on Monday pegged the country's growth for 2021-22 at 8.9 per cent, a tad lower than
9.2 per cent estimated in its first advance estimates released in January.
• Besides, NSO revised its estimates of GDP contraction for the coronavirus pandemic-hit last
financial year (2020-21) to 6.6 per cent. Earlier, the estimate was 7.3 per cent contraction.
• Indian economy contracted 23.8 per cent in April-June in 2020 and 6.6 per cent in July-
September quarter in 2020.
• "While an adverse base was expected to flatten growth in Q3 FY2022, the initial estimates of
the NSO are sorely below our expectations (6.2 per cent for GDP), with a marginal rise in
manufacturing and a contraction in construction that is surprising despite the heavy rainfall in
the southern states, Aditi Nayar, Chief Economist at ICRA, said.
• "GDP at constant (2011-12) prices in Q3 of 2021-22 is estimated at Rs.38.22 trillion as against
Rs.36.26 trillion in Q3 of 2020-21, showing a growth of 5.4 per cent," an official statement
said.
• According to the statement, real GDP or Gross Domestic Product (GDP) at constant (2011-12)
prices in 2021-22 is estimated to attain a level of Rs.147.72 trillion as against the first revised
estimate of GDP for the year 2020-21 of Rs.135.58 trillion, released on January 31, 2022.
• The growth in GDP during 2021-22 is estimated at 8.9 per cent as against a contraction of 6.6
per cent in 2020-21.
• In value terms, GDP stood at Rs.38,22,159 crore in October-December 2021-22, higher than the
Rs.36,22,220 crore in the corresponding period of the 2020-21.
• According to NSO data, Gross Value Added (GVA) growth in the manufacturing sector growth
remained almost flat at 0.2 per cent in the third quarter of 2021-22, compared to a growth 8.4 per cent
a year ago.
• Farm sector GVA growth was slow at 2.6 per cent in the third quarter compared to 4.1 per cent growth
a year ago.
• Construction sector GVA declined by 2.8 per cent as against a growth of 6.6 per cent a year ago.
• Mining sector grew by 8.8 per cent, as against a contraction of 5.3 per cent.
• Electricity, gas, water supply and other utility services segment posted a growth of 3.7 per cent in the
third quarter of this fiscal against 1.5 per cent expansion a year ago.
• Similarly, trade, hotel, transport, communication and services related to broadcasting grew by 6.1 per
cent compared to 10.1 per cent contraction a year ago.
• A 10% rise in oil prices could shave 0.2 percentage points off India's GDP growth while adding 0.3 to
0.4 percentage points to retail inflation, according to Nomura's estimates.
• Sakshi Gupta, senior economist at HDFC Bank, said India was likely to feel the ripple effects of
widening sanctions against Russia.
• "We see a downside risk of 20-30 basis points to our base forecasts," she said. For now HDFC sees
the economy growing 8.2% in the next fiscal year.
 FISCAL DEFICIT TREND
• The fiscal deficit of the government for 2022-23 is estimated to be Rs.16,61,196 crore. The Revised Estimate for
2021-22 indicate a fiscal deficit of Rs.15,91,089 crore as against the Budget Estimate of Rs.15,06,812 crore.
• The fiscal deficit for 2020-21 was 9.3 per cent of the Gross Domestic Product (he central government's fiscal
deficit at end-January worked out at 58.9 per cent of the annual budget target for 2021-22, according to official
data released on Monday.

The fiscal deficit was 66.8 per cent of Revised Estimate (RE) of 2020-21 during the corresponding period of the
last fiscal.

In actual terms, the deficit was Rs 9,37,868 crore at end-January 2022 against upwardly revised annual estimate of
Rs 15.91 lakh crore, according to the data released by the Controller General of Accounts (CGA).GDP) The total
receipts of the government at end-January were Rs 18.71 lakh crore or 85.9 per cent of the Revised Estimates (RE)
for 2021-22. The collection was about 80 per cent of the RE of 2020-21 in the corresponding period last fiscal.

The tax (net) revenue so far were at 87.7 per cent of the RE of 2021-22. It was 82 per cent of RE 2020-21 in the
corresponding period of last fiscal. In actual terms, the net tax revenue stood at Rs 15.47 lakh crore during April-
January 2021-22.

 ..
 COMPARATIVE STUDY BETWEEN MAHARASTRA AND CHANDIGARH

• The economy of the state of Maharastra is the largest in India. It is one of the most
urbanised of Indian States.
• Mumbai, the capital of Maharashtra is considered the financial capital of India with
the headquarters of almost all major banks, financial institutions, insurance companies
and mutual funds being based in the city. India's largest stock exchange Bombay
Stock Exchange, the oldest in Asia, is also located in the city. More than 41% of
the S&P CNX 500 conglomerates have corporate offices in Maharashtra.
• Maharashtra is India's second most industrialised state contributing 20% of national
industrial output. Almost 46% of the GSDP is contributed by industry. Maharashtra
has software parks in many cities around the state, and is the second largest exporter
of software with annual exports over ₹ 80,000 crore.
• Although highly industrialized, agriculture continues to be the main occupation in
many regions of the state. 24.14% of the working age population is employed in
agriculture and allied activities.
• Chandigarh Economy has been growing at a very fast pace for its GDP growth rate is around 8.3%. The per
capita income of Chandigarh is ` 67,370 which makes the city the richest in India. The gross domestic
product of city amounted to US$ 2.2 billion in 2004. The Economy of Chandigarh depends for its revenue
on the agricultural, industrial, animal husbandry, fishing, IT, and tourism sectors.

The Economy of the city of Chandigarh gets its revenue from the agricultural sector. The various kinds of
crops grown in Chandigarh are maize, vegetables, paddy, and wheat. The fields in the city are irrigated
with the help of wells and tube wells. The sector of agriculture has contributed to the growth of the
Economy in Chandigarh. The Economy in the city of Chandigarh also depends for its revenue on the
industrial sector. There are over 2500 small scale units and around 15 medium and large scale industrial
units in Chandigarh. The various products manufactured by the small scale units are sanitary fittings,
machine screws, hard ware, utensils, domestic and auto cables, varnishes and paints, steel fabrication, door
fittings, and thermometers. The medium and large scale units consists of electric meters, cycle rims,
hosiery, brakes, antibiotics, wool tops, artillery fuses, and equipments for railway track.

The industrial sector has thus given a major boost to the Economy in Chandigarh.
he Economy in Chandigarh gets its revenue from the IT sector. The city has the Rajiv Gandhi Chandigarh
Technology Park that is full with big players in the IT field like Infosys, Net Solutions, IBM Daksh, and
FCS Software Solutions Ltd. This sector has contributed to the growth of the Economy of the city of
Chandigarh. The Economy of Chandigarh also depends for its revenue on the tourism sector. The city has
great many tourists spots like Rock Garden, Sukhna Lake, Rose Garden, Pinjore Garden, and Tower of
Shadows. Thus the sector of tourism has helped in the growth of the Economy in Chandigarh.
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