Heat oven to 375 F. Spray 2 1/2-by-4 1/2-by-8 1/2-inch loaf pan with cooking spray.
In a small bowl, combine first 6 dry ingredients. Set aside.
Using a mixer, or stirring vigorously by hand, cream oil and sugar in a large bowl. Beat in milk, orange juice, egg, vanilla and orange rind. Stir in carrots, raisins and walnuts. Add reserved dry ingredients. Mix well.
Spoon batter into loaf pan. Bake for 45 minutes, or until wooden pick inserted in center comes out clean. Cool in pan 10 minutes. Remove from pan and let cool completely on wire rack.