Economy, jobs and prices in Maharashtra, India: official figures
Net state domestic product per person, the usual measure of average income, was ₹309,340 in 2024-25 at current prices; 6th highest of 25 with figures. Five years earlier it was ₹189,843, a rise of 63% before inflation.
Is Maharashtra's economy growing?
After allowing for inflation (2011-12 prices), income per person grew 6.4% in 2024-25; 11th slowest of 25 with figures.
Source: Reserve Bank of India · saved copyHow big is Maharashtra's economy?
The state's economy (gross state domestic product) was worth ₹45.32 lakh crore (₹45.32 trillion) in 2024-25 at current prices, 11.7% more than a year earlier.
Source: Reserve Bank of India · saved copyWhat are the main industries in Maharashtra?
In 2024-25 services made up 64.3% of the value added in Maharashtra's economy (5th highest of 25 with figures), manufacturing 13.8% (10th highest of 25 with figures) and crop farming 7.1% (8th lowest of 25 with figures), at current prices.
Source: Reserve Bank of India · saved copyHow much food does Maharashtra grow?
Farmers in Maharashtra produced 18,468,500 tonnes of foodgrains (rice, wheat, other cereals and pulses) in 2024-25, 5.2% of India's harvest; 9th largest of 31 with figures.
Source: Reserve Bank of India · saved copyWhat is the unemployment rate in Maharashtra?
Unemployment in Maharashtra in 2023-24 was 2.2% in rural areas and 5.2% in towns and cities (usual status, Periodic Labour Force Survey); all-India: 2.5% rural and 5.1% urban. Urban unemployment was 11th lowest of 35.
Source: Reserve Bank of India · saved copyHow much do farm workers earn in Maharashtra?
A man working as a general farm labourer in rural Maharashtra earned on average ₹343 a day in 2024-25 (all-India: ₹398); 4th lowest of 19 with figures. Rural day rates for men were ₹408 for construction workers and ₹324 for non-farm labourers.
Source: Reserve Bank of India · saved copyWhat is inflation in Maharashtra?
Consumer prices in Maharashtra rose 4.1% on average in 2024-25, and food and drink prices by 6.5% (all-India: 4.6%). Over the same year fuel and light prices fell 4.8% and urban housing costs rose 3.0%.
Source: Reserve Bank of India · saved copyDo banks lend in Maharashtra?
Commercial banks in Maharashtra held ₹52.34 lakh crore of deposits at the end of March 2025, about ₹406,800 per resident, and had lent ₹44.83 lakh crore: a credit-deposit ratio of 98.1% (all-India: 80.1%; 4th highest of 36). A low ratio means local savings are mostly lent elsewhere.
Source: Reserve Bank of India · saved copyMore figures
- Maharashtra produced 16,045,000 tonnes of milk in 2023-24, 6.7% of the national total. Source: Reserve Bank of India · saved copy
- Indian tourists made 189.37 million visits to Maharashtra in 2024 (6.4% of all domestic tourist visits; 6th most of 36). Source: Reserve Bank of India · saved copy
- Electricity available per person was 1,584 kWh in 2024-25 (all-India: 1,208 kWh). Source: Reserve Bank of India · saved copy
- 14.8% of the electricity fed into Maharashtra's grid was lost in transmission and distribution in 2022-23, through technical losses, theft and unbilled supply (all-India: 17.7%). Source: Reserve Bank of India · saved copy
- NITI Aayog scored Maharashtra 73 out of 100 on the Sustainable Development Goals India Index in 2023; 15th highest of 36. Source: Reserve Bank of India · saved copy
How Maharashtra compares with other states
Income per person (NSDP per capita, current prices) (2024-25)
Maharashtra ranks 6 of 25, highest first.
| Rank | Region | Income per person (NSDP per capita, current prices) |
|---|---|---|
| 3 | Karnataka | ₹380,906 |
| 4 | Tamil Nadu | ₹361,619 |
| 5 | Haryana | ₹353,182 |
| 6 | Maharashtra | ₹309,340 |
| 7 | Kerala | ₹308,338 |
| 8 | Puducherry | ₹281,478 |
| 9 | Uttarakhand | ₹274,064 |
Urban unemployment rate (usual status) (2023-24)
Maharashtra ranks 25 of 35, highest first.
| Rank | Region | Urban unemployment rate (usual status) |
|---|---|---|
| 22 | Jharkhand | 5.8% |
| 23 | Uttarakhand | 5.8% |
| 24 | Punjab | 5.6% |
| 25 | Maharashtra | 5.2% |
| 26 | Karnataka | 4.2% |
| 27 | Tamil Nadu | 4.1% |
| 28 | Haryana | 4.0% |
Services share of the economy (GSVA) (2024-25)
Maharashtra ranks 5 of 25, highest first. Share of gross state value added at current prices.
| Rank | Region | Services share of the economy (GSVA) |
|---|---|---|
| 2 | Karnataka | 68.1% |
| 3 | Kerala | 67.3% |
| 4 | Telangana | 67.2% |
| 5 | Maharashtra | 64.3% |
| 6 | Jammu and Kashmir | 61.5% |
| 7 | West Bengal | 58.3% |
| 8 | Meghalaya | 57.6% |
Bank credit-deposit ratio (place of sanction) (March 2025)
Maharashtra ranks 4 of 36, highest first. Loans made in the state per ₹100 of deposits held there.
| Rank | Region | Bank credit-deposit ratio (place of sanction) |
|---|---|---|
| 1 | Andhra Pradesh | 151.1% |
| 2 | Tamil Nadu | 115.4% |
| 3 | Telangana | 111.6% |
| 4 | Maharashtra | 98.1% |
| 5 | Delhi | 91.8% |
| 6 | Rajasthan | 88.6% |
| 7 | Gujarat | 79.7% |
More on Maharashtra: overview · health · education and schools · poverty and living standards · government budget · India
Sources
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 153: State-wise Credit-Deposit Ratio of Scheduled Commercial Banks - According to Place of Sanction, read 23 October 2026 · saved copy (SHA-256 536e5d4415d4…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 108: State-wise Average Inflation (CPI) - General, read 23 October 2026 · saved copy (SHA-256 1dd5a612f16c…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 62: State-wise Production of Total Foodgrains, read 23 October 2026 · saved copy (SHA-256 7674a11e229b…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 21: Gross State Domestic Product (Current Prices), read 23 October 2026 · saved copy (SHA-256 307860e934ba…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 91: State-wise Milk Production, read 23 October 2026 · saved copy (SHA-256 3607285ce982…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 19: Per Capita Net State Domestic Product (Current Prices), read 23 October 2026 · saved copy (SHA-256 1f90818b79f1…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 20: Per Capita Net State Domestic Product (Constant Prices), read 23 October 2026 · saved copy (SHA-256 0861a3b6a0df…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 138: State-wise Per Capita Availability of Power, read 23 October 2026 · saved copy (SHA-256 3004b58b5f81…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 106: State-wise Sustainable Development Goals (SDGs) Score, read 23 October 2026 · saved copy (SHA-256 f18c2f57a295…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 49: Gross State Value Added by Economic Activity - Services (Current Prices), read 23 October 2026 · saved copy (SHA-256 231843665df0…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 148: State-wise Electricity Transmission & Distribution Losses, read 23 October 2026 · saved copy (SHA-256 7ba079aa2389…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 13: State-wise Domestic Tourist Visits, read 23 October 2026 · saved copy (SHA-256 14ecc37284d7…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 9: State-wise Unemployment Rate: Usual Status (Adjusted) (Urban), read 23 October 2026 · saved copy (SHA-256 4eef6c004595…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 113: State-wise Average Daily Wage Rates in Rural India (Men - General Agricultural Labourers), read 23 October 2026 · saved copy (SHA-256 6f4995aec2fa…)
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