Economic Survey 2025-26: Maharashtra Drives India's Growth, But Its Health Infra Needs Push

Last Updated:March 05, 2026, 23:03 IST

The report said Maharashtra sustained its economic leadership in India but has to identify challenges in health infrastructure and social sector capacity

Maharashtra’s economy is poised to continue its growth trajectory in 2025-26, with an expected expansion rate of 7.9 percent surpassing the projected national growth rate of 7.4 percent.

According to the Economic Survey of Maharashtra 2025-2026, the state sustained its economic leadership in India but has to identify challenges in health infrastructure and social sector capacity.

The survey highlighted that Maharashtra’s nominal gross state domestic product (GSDP) is projected to reach Rs 51 lakh crore in 2025-26, up from Rs 46.22 lakh crore in 2024-25. This indicates ongoing economic activity growth across sectors.

It said the state remains India’s largest economy, contributing around 14 percent of the GDP (gross domestic product). It attributed the growth mainly to the services sector, expected to grow by 9 percent this year.

The industry is projected to expand by 5.7 percent, and agriculture and allied activities by 3.4 percent, the survey stated. Expansion in financial services, information technology, logistics, and tourism has been significant, particularly in urban centres like Mumbai, Pune, and Nagpur.

Income levels in Maharashtra remain higher than the national average, with per capita income projected to reach Rs 3.47 lakh in 2025-26, compared to the estimated national average of Rs 2.19 lakh reflecting higher productivity and industrialisation, it said. It pointed to stable public finances, with revenue receipts estimated at Rs 5.60 lakh crore for 2025-26.

Despite increasing developmental expenditure, the survey said, the state has maintained fiscal discipline with a deficit projected at 2.7 percent of the GSDP. Its role as India’s investment engine remains strong, accounting for 31 percent of total foreign direct investment inflows in India between October 2019 and March 2025.

Additionally, it said, over 63.8 lakh MSMEs operate in the state creating employment for more than 2.5 crore people. It also contributes approximately 15 percent of India’s total exports.

On the social front, the survey noted controlled inflation with rural inflation at 2 percent and urban inflation at 1.5 percent between April and December 2025. Food inflation stayed below 1 percent, providing relief to households.

Health indicators show improvement, with the infant mortality rate dropping to 14 per 1,000 live births and the birth rate declining to 14 per 1,000 population. But the report also identified infrastructure gaps, saying the state has 528 government hospitals and about 73 hospital beds per lakh population. This, it said, pointed to a need for further healthcare capacity expansion.

Welfare programmes continue to reach large sections of the population, with the public distribution system covering over 2.7 crore ration card holders and the Shivbhojan scheme serving more than 4 crore subsidised meals through nearly 1,900 centres, the report said. Overall, it presented Maharashtra as India’s economic powerhouse driven by services, investment, and industrial activity while balancing growth with expanding social welfare commitments.

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