Market guru Anil Singhvi explains why Maharashtra is important for the economy

Zee Business Managing Editor Anil Singhvi said on Monday that the outcome of the 2024 Maharashtra Assembly elections has aided investor sentiment on Dalal Street. Over the weekend, the outcome of the Maharashtra state polls was declared, with the BJP-led Mahayuti alliance winning the race against the Maha Vikas Aghadi (MVA) coalition. Besides, the results of the Assembly election in Jharkhand as well as by-polls in 14 other states were also announced. Voting took place in Maharashtra in a single phase on November 20. 

Market wizard Singhvi pointed out that Maharashtra holds significant importance for India given its substantial economic and policy implications.

"Maharashtra is indeed the most important state for the economy as a whole," he said.   

Here are a few important things to know about Maharashtra, as underlined by the market guru: 

Market guru Anil Singhvi highlights that Maharashtra accounts for 15% of India's GDP

• Maharashtra is the most important state for the economy
• Maharashtra accounts for about 15 per cent of the country's gross domestic product (GDP)
• About one-fifth (20 per cent) of the country's industrial output comes from Maharashtra  
• In FY24, Maharashtra's FDI flows were recorded at $8.48 billion, which is 52.5 per cent of the country's total  
• Maharashtra contributes the most to the country's service sector
• Work is underway in projects amounting to Rs 8 lakh crore in the state
• Mumbai is set to have a metro network spanning 337 kilometres (KM) 

ALSO READ: Election Results Full Lists of Winners: BJP-led Mahayuti stages landslide victory in Maharashtra, JMM+ wins in Jharkhand 

The market continued to rally for a second straight session on Monday, with the Sensex surging as much as 1,356 points to touch 80,473.1 and the Nifty50 climbing 444.3 points to 24,351.6.

Financial energy, auto and FMCG stocks led a broad-based surge in the market.

ALSO READ: What's driving gains on Dalal Street?

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