Smooth power supply improves LSM growth
Official sources say large-scale manufacturing sector has shown impressive growth of 24.31 % in December.
The large-scale manufacturing sector registered a growth of 6.76 per cent during first half of the current financial year over a year ago mainly due to improved power supply to the industries.
Official sources said LSM sector has shown impressive growth of 24.31 per cent in December last year.
They said services and manufacturing are driving better-than-expected GDP growth‚ as reforms in the electricity sector seem to be bearing fruit with electricity shortages and unscheduled load-shedding declining.
The LSM sector is mainly driven by twelve categories of items in the July-December period of 2013-14 over the corresponding period of last year. Major contribution towards positive growth was from textile‚ food and beverages‚ petroleum products‚ paper and board‚ pharmaceutical‚ fertilisers‚ electronics‚ iron and steel products‚ leather‚ chemicals‚ non-metallic mineral and rubber products.