Maharashtra Elections 2024: 'Economy In Decline Under Current Govt', Says Senior Congress Leader P Chidambaram

Mumbai: Senior Congress leader P Chidambaram on Saturday accused the Mahayuti government of undermining Maharashtra's economy, which he claimed had been built 'brick by brick' by the Congress to make the state one of India's top economic powerhouses.

Maharashtra has long been a leader in the industrial and services sectors and has also demonstrated strong performance in agriculture. “I am uncertain about how much longer Maharashtra will hold onto its position as India’s commercial capital,” Chidambaram remarked.

The Congress party has not been in power in the state for most of the past decade, aside from the two-and-a-half-year period when the Maha Vikas Aghadi (MVA) coalition governed, Chidambaram pointed out. “The economic decline under the BJP-led government is evident,” he said.

Chidambaram cited statistics from recent years, mentioning that Maharashtra’s GDP growth rate dropped from 9.4% in 2022-23 to 7.6% in 2023-24. He pointed out that the fiscal deficit surged from Rs67,000 crore to Rs1,12,000 crore during the same period.

The former finance minister further noted a significant decrease in agricultural growth, which fell from 4.5% to 1.9%, and a reduction in the services sector growth from 13% to 8.3%. He mentioned that capital expenditure has stagnated at Rs85,000 crore.

“This downward trend must be stopped. But those responsible for causing it cannot be expected to reverse it,” Chidambaram stated.

He further noted that the unemployment rate for Maharashtra’s youth stands at 10.8%, with approximately 47% engaged in self-employment. The number of people receiving regular monthly salaries has reportedly dropped from 40% to 31%, according to Chidambaram.

He mentioned that over 11 lakh applicants competed for 18,300 constable and driver positions in the Maharashtra and Mumbai police forces, and that 11.5 lakh candidates applied for just 4,600 talati (revenue official) positions.