New Delhi, Aug. 10: The services sector continues to fuel growth in the economy, says the CII-Ascon survey for April-June 2003.
The survey says the cellular services sector registered a subscriber growth rate of 115 per cent in April-June 2003 over April-June 2002. The growth rate in April-June 2002 over April-June 2001 was 164 per cent.
The construction industry recorded an impressive 15 per cent growth against 12 per cent during the quarter April-June last year on its turnover and 42.7 per cent on exports.
The housing finance sector is also picking up. “Sanctions of home loans registered a 35 per cent growth, while disbursements registered a growth of 34 per cent in April-June 2003 over April-June 2002,” the survey said.
Highlighting the performance of the tourism industry, the survey states that tourist arrivals increased by 12 per cent. “The industry rallied forcefully after the Iraq war and tourist arrivals are expected to rise up to 15-20 per cent for the next six months. Hotel occupancy is also expected at 15-20 per cent in the coming months”, says CII.
The IT industry has also maintained a high growth trend. Turnover in hardware grew by 16 per cent against 12 per cent last year. Sale of personal computers and software recorded a growth of 12 per cent and 20 per cent, respectively.