Word: delhi
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...launched military strikes against Indian airfields. So when current Prime Minister Manmohan Singh stared down a camera to deliver a message earlier this month, there was no doubting the gravity of the situation. India was losing a battle of sorts: due to soaring oil prices, Singh told viewers, New Delhi was forced to roll back generous fuel subsidies, meaning everyone was going to start paying more - possibly much more - to cook their food and drive their vehicles. "There are limits to which we can keep consumer prices unaffected by rising import prices," Singh said, warning that without the change India...
...live on less than $1 a day - and to give politicians a chance to stay in power on election day. "There's the economics of it and there's the politics of it," says Suman Bery, director-general of the National Council of Applied Economic Research, a New Delhi think tank. "The politics of it is that LPG and diesel are considered to be sensitive commodities because they impact directly on family budgets...
...that governments increasingly cannot afford. The Indian government spent almost $9 billion last year on fuel subsidies, adding to the country's budget deficit. State-run gasoline retailers have been losing billions of dollars as well because they are forced to sell to consumers at prices set by New Delhi. When the three largest state-owned oil companies warned recently that they would soon run out of money to import oil, the government finally raised price caps...
...already at a four-year high. Public anger is growing. India's leftist parties called for a week of protests after Singh's TV announcement. The states of West Bengal, Tripura and Kerala saw general strikes that emptied the streets. Slogan-shouting housewives marched through New Delhi, while in Mumbai protestors rode bullock carts to show that cars are now out of reach of the common man (never mind that less than 10% of the adult population owns a car). Says Rajiv Pratap Rudy, a spokesman for the main opposition Bharatiya Janata Party: "This is an economic terror unleashed...
...want to earn as much as possible in a short time, then return home. Managers who refuse to let them work illegal overtime risk losing workers to less stringent factories. Likewise, in India, it's not possible to "create E.U.-like working conditions," says Anil Bhardwaj, of the New-Delhi based Federation of Indian Micro and Small & Medium Enterprises. "It might hurt our conscience to know that a child sold into slavery for 500 rupees [12 dollars] is making a shirt we might wear. But there are millions living on the fringes of society for whom 500 rupees...