UPDATE 1-Maruti cuts prices of small cars after budget

Newswire

(Adds price cut details) MUMBAI, Feb 28 (Reuters) - India's top car maker, Maruti Udyog Ltd. on Tuesday cut prices of its small cars by up to 25,000 rupees following an excise duty cut in India's federal budget for 2006/07. Finance Minister Palaniappan Chidambaram has proposed to cut the excise duty on small cars to 16 percent from 24 percent. The price reductions on Maruti's five small car models ranged from 12,704 rupees ($285) on the mini 800 to 25,052 rupees ($564) on a premium Zen ...

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