11th Commerce: Economics Chapter 4 Lecture 3 - Economy of Maharashtra | Maharashtra Board

In this video, we explain the Service Sector of Maharashtra, the fastest-growing and largest employment-generating sector of the state economy. The service sector includes insurance, tourism, retail banking, education, fintech, IT/ITES, startups, cloud computing, electric vehicles, defence services, and social services, catering to both businesses and final consumers.

As per 2017-18 data, the service sector contributed 54.5% to Maharashtra’s Gross State Domestic Product (GSDP), making it the most significant contributor compared to agriculture and industry. The government has identified core growth areas such as Fintech, IT services, startups, tourism, private universities, and has actively promoted service sector expansion in Tier-II cities.

The video also covers Infrastructure Development, which forms the backbone of the service sector and overall economic growth. Infrastructure is classified into:

🔹 Economic Infrastructure

Includes energy, transport, and communication, supporting production and distribution. Key government initiatives discussed include:

Expansion of electricity generation capacity
Rural electrification and energy conservation
Road Development Plan (2001–2021)
Mumbai and Nagpur Metro projects
Port development under the Sagarmala Programme
Maharashtra leading India with the highest internet subscriber base

🔹 Social Infrastructure

Focuses on improving quality of life and human development, including education, healthcare, housing, sanitation, drinking water, and literacy programmes, which play a vital role in long-term economic growth.

📘 This video is highly useful for Maharashtra Board students, Class 10 & 12 Economics, BA, BCom, BA.LLB, MPSC, UPSC aspirants, and anyone studying the Economy of Maharashtra.

👉 Watch till the end for clear concepts, exam-ready points, and easy explanations!