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Our Bureau

New Delhi April 22 The recent cash reserve ratio and repo rate hike by the Reserve Bank of India and the consequent hike in interest rate by commercial banks have already taken its toll on the industry, according to the Confederation of Indian Industry.

The automobile sector's growth rate declined to 0.8 per cent in March 2007 compared with 20.4 per cent in the corresponding month of the previous year. The growth figures for consumer durables for February 2007 stood at 1.6 per cent compared with 20.3 per cent last year, according to the chamber.

However, corporate earnings posted significant gains in the third quarter of just-concluded fiscal (2006-2007).

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Moily sees more employment generation in DK district

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