<p>The government today said high interest rates and fuel prices have affected the growth of the domestic automobile sector during the recent months.<br /><br /></p>.<p>"Factors like rising interest rates and hike in fuel prices have affected the growth of this sector, thereby, showing a marginal growth during the recent months," Heavy Industries and Public Enterprises Minister Praful Patel said in a written reply to the Lok Sabha.<br /><br />Referring to the Society of Indian Automobile Manufacturers Association (SIAM) data, he said during April-February 2011-12, the production of passengers cars grew only 2.5 per cent year-on-year, domestic sales rose 0.31 per cent and exports jumped 16.2 per cent.<br /><br />The government has taken various steps including implementation of the Automotive Mission Plan (2006-16) to boost the industry.<br /><br />It includes attracting more investments, providing a direction to help transform the industry into a global automobile player.</p>
<p>The government today said high interest rates and fuel prices have affected the growth of the domestic automobile sector during the recent months.<br /><br /></p>.<p>"Factors like rising interest rates and hike in fuel prices have affected the growth of this sector, thereby, showing a marginal growth during the recent months," Heavy Industries and Public Enterprises Minister Praful Patel said in a written reply to the Lok Sabha.<br /><br />Referring to the Society of Indian Automobile Manufacturers Association (SIAM) data, he said during April-February 2011-12, the production of passengers cars grew only 2.5 per cent year-on-year, domestic sales rose 0.31 per cent and exports jumped 16.2 per cent.<br /><br />The government has taken various steps including implementation of the Automotive Mission Plan (2006-16) to boost the industry.<br /><br />It includes attracting more investments, providing a direction to help transform the industry into a global automobile player.</p>