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Bajaj Auto Managing Director Rajiv Bajaj on Friday asserted that "overregulation" in the two-wheeler segment has led to an increase in the prices of vehicles which are mainly used by the masses. While acknowledging the benefits of the latest emission norms for society, he noted that the government should consider reducing GST rates on two-wheelers from the current rate of 28 per cent.

"This kind of dramatic change in price owes itself to many things, but most of all to what I have openly called as over-regulation of the market," he said, while speaking at a product launch event.

The two-wheeler industry has been seeking a cut ...