India, Aug. 13 -- To achieve its aim of making Maharashtra a $1trillion economy by 2028, the state-appointed think tank Maharashtra Institution for Transformation (MITRA) has set a Gross State Domestic Product (GSDP) growth target of 17.55 %, up from the current 7.85%. It also aims to increase investment to 37% of the GSDP from the current rate of 25%.

During the first meeting of the think tank's governing body on Monday, MITRA also set a target of achieving a capital formation rate of 36.9% in five years, up from the current 24%. Capital formation is that part of a state's current output and imports that is not consumed or exported during the accounting period but is set aside as an addition to its stock of capital goods.

Chief ministe...