The Indian Union Budget 2016-17 presented by the finance minister of India Mr. Arun Jaitley had some worrying news for the four wheeler market(specially the bigger cars) but has some good news for motorbike enthusiasts. The finance minister also proposes to to collect tax at source at the rate of 1% on purchase of luxury cars exceeding value of Rs 10 lakh. The two-wheeler sector has escaped the finance ministers levy. Also. the auto loan interest remains unchanged.

Budget 2016-17 spares 2- & 3-wheelers, but taxes passenger vehicles | Car News | Premium hatchbacks | Autocar India
Budget 2016: Woes for Passenger Vehicle Industry - News - NDTV CarAndBike.com
Budget 2016: Auto loan interest rates remain unchanged | ZigWheels.com
India Auto Inc comments on Union Budget 2016