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Healthy growth in service sector

New Delhi, Sept. 25: A CII-Ascon study has revealed that the service sector continued to grow at a handsome pace during the second quarter of the current financial year (April-September 2002). Out of the 13 sectors reviewed, cellular services has clocked a whopping 80 per cent growth.

Next in queue are housing finance and software services which have recorded 34 per cent and 20 per cent growth respectively. With the incentives provided in the budget, housing finance is expected to grow by more than 30 per cent in the next six months, the survey said.

The subscriber base of cellular services is expected to grow by 65 per cent in the coming six months, mainly due to the penetration of rural telephony.

However, uncertainty regarding WLL-based mobility, cost and availability of spectrum and local regulatory issues are some of the reasons hampering the growth in the sector, the survey added.

The turnover of construction industry has gone up to 10 per cent in the second quarter of current year compared with 5 per cent during the same period last year.

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