The State of Maharashtra has the largest economy in the country. Its Gross Domestic Product (GSDP) at current prices stood at Rs.2, 71,406 crores in the year 2001-02. The State roughly accounted for 13 per cent of the national income. The per capita income of the people of the state is Rs.15, 484 which is third in the country. However, the GSDP at constant prices posted a Compounded Annual Growth Rate (CARG) of 4.93 per cent during 1994-2002, lower than all-India CARG of 6.24 per cent. The economy of the state largely depends on agriculture and industries.

The state is highly urbanized - 42 per cent of the population lives in cities - and it is high on literacy with 77 per cent of the population above seven years being literate. Mumbai, the capital of Maharashtra is also called as the Business Capital of India is the industrial hub of the state. Major industries of Maharashtra are textiles, automobiles and chemicals etc.