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Tata Motors to hike prices after budget

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Tata Motors will increase prices of all its commercial and passenger vehicles with immediate effect, the company said, in amounts proportionate to the increase in excise duty announced in the FY13 budget on Friday.

Finance Minister Pranab Mukherjee said on Friday that excise duty on cars currently taxed at 22% would increase to 24%, and excise duty on cars currently taxed at 22% with an additional Rs 15,000 per vehicle charge would increase to 27%.