Emerging from the crisis

07 MAR,2021 | MEDC


 

For both Maharashtra and India, there lies an optimistic picture ahead. The worst of the crisis – be it healthcare related or the economic slowdown – is now behind us. There is now a fairly robust economic revival story across various sectors, except those characterised by close human-to-human interaction including travel and tourism, hospitality, and aviation. Some vexing issues pertaining to NPAs still persist. However, policy action is being taken not only to deal with them but also to prevent future ones from arising. Even though Maharashtra’s economy is expected to post negative growth as per the advance estimates in the recently released state’s Economic Survey, the good news is that the monsoon was normal. That is a key factor affecting local growth prospects. In Maharashtra, the production of cereals is expected to increase by 60%, pulses by 14%, oilseeds by 28%, cotton by 33%, and sugarcane by 40% over the previous year. There are glimmers of light at the end of the tunnel. 

*Photo Credit: Google

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