Maharashtra is a middling performer when it comes to macroeconomic performance, according to a Motilal Oswal analysis of 15 major Indian states that account for 85 per cent of India’s GDP.
The brokerage arrived at this conclusion after analysing 20 different parameters during the two-and-half year period ending September 2018.
According to the analysis, Madhya Pradesh, Telangana and West Bengal were the top three performers, while Punjab, Haryana, Kerala and Tamil Nadu were the four worst ones.
The states were ranked on how many parameters they had in the top 33 percentile less the number of parameters in the bottom 33 percentile. A score was arrived at by deducting the number of variables in the bottom 33 percentile from the number of variables in the top 33 percentile as a percentage of total variables.
Maharashtra’s score was zero because it had six parameters each in the top 33 and bottom 33 percentile. The state lagged in the following six parameters: rural bank credit growth, urban bank credit growth, passenger vehicle sales, two-wheeler sales, government capital spending and rural sales.
On the other hand, it was ranked among the top one-third of states in the following six parameters: foreign direct investment inflows, growth in real rural wages in the agriculture sector, growth in real rural wages in the non-agriculture sector, diesel sales, total taxes and the deviation of rainfall from normal. Motilal Oswal expects India’s fiscal 2019 real GDP growth to pick up slightly to 7 per cent.