Word: delhi
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...government says it is taking steps to assist Vidarbha's farmers. Mindful that a backlash in the countryside led to the last national government's ouster from office, the Maharashtra state administration and the Congress Party-led coalition in New Delhi have promised to pump almost a billion dollars into Vidarbha's rural sector. Authorities have arrested dozens of unlicensed moneylenders and pushed banks to offer more farmers credit at reasonable rates. The government is also trying to encourage farmers to diversify into other crops and into dairy and poultry production. A little more than half the money...
RAJIV MEHTA, OWNER OF AN INTERIOR-DESIGN company in New Delhi, has come to dread his frequent business trips in India. Typically his flight approaches its destination only to have to circle the airport because of congestion on the ground. Thanks to India's economic prosperity and the booming growth of its airline industry, more Indians are flying today than ever. But they are enjoying it less, because more than half of all domestic flights are delayed 30 min. or more. "We needed this boom because people need to travel and we need choice," Mehta says. "But in some ways...
...cost upstarts Air Deccan, IndiGo, GoAir and SpiceJet have added so many flights--even though there's no place to land them--that profit-destroying fare wars have broken out. Air Deccan, for example, advertises a fare of just $6.60 plus taxes for a 45-min. flight from New Delhi to Jaipur. Add in higher fuel prices, and you've got a recipe for red ink. Indian airlines lost some $500 million last year, after a couple of years of robust profit growth...
...Airlines. Meanwhile, Jet Airways, the country's largest full-service carrier, is buying rival Air Sahara for $340 million and, perhaps more important, more gates at congested airports. The mergers are "an attempt by players to basically get some kind of stability into the market," says Kapil Kaul, New Delhi--based CEO for India and the Middle East at CAPA. "What we're seeing now is sanity beginning to prevail...
...have just two or three full-service carriers and three or four budget airlines, predicts Kaul. Their health may depend on how quickly planned airport improvements are completed. A new airport is scheduled to open in Bangalore next year; work is also under way on new terminals in New Delhi and Mumbai (formerly Bombay), with completion set for 2010 and 2012, respectively. The improvements can't come soon enough for travelers like Mehta. "We've got all these new planes and flights," says Mehta. "Finally they're starting to fix the airports...