Auto Budget 2016: Taxing the luxury cars will be deterrent for the growth of the industry, says Mercedes-Benz

Expressing his reaction over the Union Budget 2016,  Roland Folger, managing director & CEO, Mercedes-Benz India, said, “Development of the agrarian sector emerged as the key priority in this year’s budget, which is positive for the Indian economy. The budget portrays a steady fiscal picture with considerable spending on infrastructure and rural development, which is laudable. However, taxing the luxury cars will be deterrent for the growth of the industry. We...