India, March 12 -- Amid criticism by the opposition regarding Maharashtra's debt stock crossing the Rs.11 lakh-mark, chief minister Devendra Fadnavis on Wednesday said the state economy had grown by $55 billion in the ongoing fiscal year and if everything goes well, Maharashtra would become the first state in the country to have a $1 trillion economy by 2029.

The issue of debt stock should not be blown out of context as it was in proportion to the state economy, which was at more than Rs.51 lakh crore, the chief minister said in the legislative assembly while responding to a debate on the state budget. Maharashtra tops the list among states with regards to foreign direct investment, software export, startups and unicorns, and bank deposi...