Fiji Times Logo

Fiji Time: 8:42 PM on Thursday 24 April

/ Front page / Business

BRIEFLY

Bbc.Co.Uk
Friday, January 04, 2013

Airline troubles

INDIA'S troubled Kingfisher Airlines has lost its flying permit after a deadline to renew its suspended licence expired, the aviation regulator said. The debt-ridden carrier has been grounded since October after repeated strikes by workers over unpaid wages. The airline said there was no cause for concern as rules allowed the renewal of a permit within two years of expiry. Kingfisher has $US1.4b ($F2.47b) in debts and it is looking to raise funds after lenders refused to give fresh loans.

Cash scheme

INDIA has rolled out an ambitious plan for a cash payout of subsidies to the poor in 20 districts, officials say. Finance Minister P Chidambaram said the scheme would benefit more than 200,000 people initially, and would cover the entire country by the end of 2013. Authorities say it will bring the country's poorest citizens "into the mainstream". But opposition parties have accused the government of "bribing the voters" ahead of the 2014 general elections. The government plans to disburse 3,200b rupees ($F104.1b) under the Direct Benefit Transfer scheme. Indian authorities say around 360 million people live in poverty. But one estimate suggests around three-quarters of India's 1.21 billion people live below the poverty line.