State retained 7.5% growth, but farm sector in distress

first_imgMaharashtra’s economy grew at an estimated 7.5% in 2018-19, the same pace as the year before it, but growth in the agricultural sector collapsed to a mere 0.4% and crop output shrank by a sharp 8%.With industrial growth also contracting, it was only a sharp 9.2% growth in the Services sector that helped the State retain the 7.5% growth rate, as per the Economic Survey tabled in the Assembly on Monday.The agriculture and allied activities sector is expected to grow by 0.4% compared to 3.1% in 2017-18 while industry may grow by 6.9% compared to 7.6 % in the previous fiscal. Only the services sector is predicted to grow faster than the 8.1% recorded in 2017-18. What should set off alarm bells about the State’s agrarian economy is the 8% contraction in crop production during the year gone by. “The State is facing consecutive droughts. The drop in crop production is a result of that. Despite that, we have managed to keep the overall growth rate at more than that of the Indian economy,” said Finance Minister Sudhir Mungantiwar. “We are expected to maintain the pace of the growth despite odds,” he said, adding that the real Gross State Domestic Product (GSDP) is estimated to be ₹20,88,835 crore with expected growth of 7.5%. Chief Minister Devendra Fadnavis has set a target to make Maharashtra a trillion dollar economy by 2025. Maharashtra is presently a $400 billion economy.The Opposition has raised doubts about the numbers quoted in the survey, and demanded a close scrutiny. Former chief minister and senior Congress leader Prithviraj Chavan flagged some doubts on the authenticity of figures and said the agricultural growth rate had been revised by almost 12%. “As per the Economic Survey of 2017-18, the estimated agriculture development rate was (-) 8.3%. In the present survey, it has been revised to 3.4%. It is impossible to have such a big change of almost 12%. The government should show proof of such drastic changes,” he said. Dhananjay Munde, the Leader of Opposition in the Legislative Council said there was a need to set up an “all-party members’ committee” for evaluation of the Economic Survey.According to the survey, the State witnessed average rainfall (84.3% of the normal) in 2017-18, 10.7 percentage points lower than 2016-17. Production of food grain, oilseeds and cotton decreased by about 15.1%, 17.7% and 43.3% respectively while that of sugarcane, fruits and vegetables increased by 53.3%, 10.3% and 17% respectively. The survey estimates the growth rate of mining & quarrying and manufacturing sectors within the industry as 2.9% and 7.1% for 2018-19, up from 7.2% and 7.7% in 2017-18. Mr. Mungantiwar said that the State has registered growth in per capita income during 2018-19 at ₹1,91,827 from ₹1,76,102 of 2017-18. The State however, ranks at number three behind Karnataka and Telangana nationally.last_img read more

Boxing chief ‘optimistic’ over ending Tokyo Olympics threat

first_imgIf the AIBA’s Olympic suspension is maintained the IOC has said it will step in to ensure the sport appears in Tokyo.Sports Related Videospowered by AdSparcRead Next Ricci Rivero leads Gilas team for Fiba 3×3 Asia Cup LATEST STORIES MOST READ View comments Ethel Booba twits Mocha over 2 toilets in one cubicle at SEA Games venue Cayetano: Senate, Drilon to be blamed for SEA Games mess ‘Rebel attack’ no cause for concern-PNP, AFP Onyok Velasco see bright future for PH boxing in Olympics PLAY LIST 00:45Onyok Velasco see bright future for PH boxing in Olympics00:50Trending Articles00:59Sports venues to be ready in time for SEA Games02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss Duterte wants probe of SEA Games mess Catholic schools seek legislated pay hike, too DA eyes importing ‘galunggong’ anew (FILES) In this file photo taken on April 12, 2019 International Boxing Federation AIBA interim president, Morocco’s Mohamed Moustahsane poses during an interview with AFP in Lausanne. – (Photo by Fabrice COFFRINI / AFP)Amateur boxing’s governing body the AIBA emerged from talks with the IOC on Monday “optimistic” of retaining the right to organize the event at next year’s Tokyo Olympics.The International Olympic Committee has frozen boxing’s preparations for next year’s Games as it seeks proof that the AIBA has cleaned up its act after concern over its governance and finances.ADVERTISEMENT Private companies step in to help SEA Games hosting AIBA interim president Mohamed Moustahsane said: “We had a very productive meeting with the IOC inquiry committee today.”He said he was confident the inquiry would produce a positive report with the IOC which is due to meet to decide on its verdict on Wednesday.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption chargesSPORTSSingapore latest to raise issue on SEA Games food, logisticsMoustahsane, in a statement, added: “We remain optimistic about the future of Olympic boxing and AIBA’s ability to safeguard this great sport.”The Moroccan doctor was joined by AIBA’s American chief executive Tom Virgets in an eight-strong delegation at the hearing with the three-member IOC inquiry led by Nenad Lalovic, the president of wrestling’s ruling body. Don’t miss out on the latest news and information. Two-day strike in Bicol fails to cripple transportlast_img read more