Can Maharashtra continue to maintain its incredible economic trajectory while also managing its steadily rising debt, which is expected to touch Rs 10 lakh crore?

Maharashtra’s economic journey shows that the state has the strength and potential to remain one of India’s leading growth engines. Representation pic/iStock

Maharashtra’s economy has more than doubled in size in less than a decade, and the average income of its people has also nearly doubled. With the state now projected to grow at 7.9 per cent, these numbers once again underline Maharashtra’s role as one of the key drivers of India’s economic growth.

In 2017-18, Maharashtra’s nominal Gross State Domestic Product (GSDP) stood at Rs 23.52 lakh crore, while the per capita income was Rs 1,72,663. Today, the picture looks very different. The state’s economy is projected to reach around Rs 51 lakh crore, and the per capita income is expected to rise to Rs 3,47,903.But while this growth story looks impressive, another number deserves equal attention: the state’s rising debt.

According to the latest figures, Maharashtra’s total debt is expected to reach over R1s 0 lakh crore. This raises an important question: can the state continue to maintain strong economic growth while also managing this steadily rising debt?

If the state is........

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