Maharashtra the commercial state of India is located in the western part of the country. The state occupies the second position both in terms of population as well geographical area after Uttar Pradesh and Rajasthan respectively. The population of the state on the basis of the last census (2001) is around 10 crore which is 9.4% of the India’s population. It is assumed that most of the population resides in the cities. According to the study 42% of the total population in the state lives in the urban areas where as at National level this around 28%. As the result of urbanization the state has emerged as the commercial state of the country.
Mumbai earlier known as Bombay is the capital of state and financial capital of India has played an important role in the economic development of the state. Today the head offices of all major financial institutions of India viz., banks, insurance companies and mutual funds are situated in Mumbai. The head office of the biggest financial institute of Indian Economy the Reserve Bank of India is also located at Mumbai
Apart from this the Mumbai Stock Exchange is the first and one of the oldest Stock Exchange of Asia. Besides this the Mumbai Film Industry also known as Bollywood is the second largest Film Industry of the world producing huge number of movies every year, next after Hollywood. The Indian movies are watched and appreciated by all the viewers through out the world.
The economy of the state is showing slide recovery from the effect of global recession happened during last couple of years. According to an advance estimates (based on 2004-05 as the base year) calculated by the Central Statistical Organization (CSO) predicts that the state GDP is expected to show an increase of 7.2% during the financial year 2009-2010 as against 6.7% during the last fiscal year 2008-09. It is also expected that the agriculture and allied sectors are expected to grow by 1.8 percent during 2009-10. The Industry sector will also overcome itself from the impact of recession will grow at the moderate rate of 7.0%. The Service sector is expected to grow at the constant speed of 10.4% during the year.
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