Auto Budget 2016: Luxury vehicles above Rs 10 lakh to be affected by 1 per cent cess

The Union Budget 2016 has been announced by the Finance Minister Arun Jaitley. Among the new amendments, the ministry has proposed a one per cent cess on all luxury vehicles that cost over Rs 10 lakh. This decision has been taken to curb rising vehicular pollution.

While sub-4m SUVs like the Mahindra TUV300 and the sub-Rs-10-lakh trims of the Ford EcoSport will mostly remain unaffected, the prices of other popular offerings like the Hyundai Creta, Renault Duster, Mahindra...