Shimla heli-taxi service gets costlier
Shimla, July 8 : Barely a month after its launch, the heli-taxi fare between Shimla and Chandigarh has gone up by Rs 500, from Rs 2,999 to Rs 3,499, officials said on Sunday.
This is not all. There is a confusion over its landing site in the Himachal state capital.
Officials said the chopper is still landing at the airport at Jubbarhatti, 22 km from here, and not at the Annandale ground, the picturesque flat highland just 3 km from Shimla's Ridge, as announced by the government soon after the launch of its maiden flight on June 4.
"Seeing the poor response of the travellers, the government has announced that the chopper will land at the Annandale ground and not at the airport. That was an encouraging step to woo the tourists as it helps reducing the travel distance between the landing spot and the city," a travel agent told IANS.
"But the chopper is still landing at the Jubbarhatti airport and it's discouraging the tourists and even locals to travel by air. That is why almost 50 per cent of the seats in every flight have been remaining unsold since the launch of heli-taxi service," he said, adding "most of the tourists are preferring to travel by cab than heli-taxi".
Officials told IANS that for boarding the chopper at Shimla, one has to go to the Jubbarhatti airport, which is an hour-long travel from here
It lands and takes off from the Chandigarh International Airport, some 18 km from the city.
Seeing the poor response of the travelers, Chief Minister Jai Ram Thakur, announced on June 18 the chopper would land at the Annandale ground but would take off from Jubbarhatti.
"We are still awaiting permission from the defence ministry. Owing to security reasons, it's reluctant to allow the civilian chopper to land at the Annandale ground," a senior official with the state Tourism and Civil Aviation Department told IANS.
A prime land surrounded by thick forests, the Annandale ground has been under the Army's control since World War II. The Army has allowed only the landing of the Chief Minister's chopper there.
The official admitted that the one-way airfare for the tri-weekly service was increased by Rs 500 from July 1 owing to high operational cost.
With the launch of the heli-taxi service on June 4, the travel time between Shimla and Chandigarh was reduced to just 20 minutes against four hours by road.
The Chief Minister has offered his official helicopter for the Shimla-Chandigarh route.
The state government in association with helicopter service operator Pawan Hans Ltd launched this service.
The helicopter takes off at the Jubbarhatti airport at 8 a.m. and reaches Chandigarh at 8.20 a.m. And from Chandigarh it takes off at 9 a.m. and reaches Shimla at 9.20 a.m.
The state is constructing a helipad at Sanjauli, just on the outskirts of Shimla. The Shimla-Chandigarh flight will be operated from Sanjauli after the new helipad becomes operational in four-five months, say officials.
The Himachal Pradesh Tourism Development Corp has started a shuttle bus service between Shimla and the airport for the heli-taxi passengers. The ticket is Rs 200 per seat.
The normal taxi fare between Shimla and its airport is between Rs 1,200 and Rs 1,500, which travel agents say is too high for a person who is travelling at an affordable air fare.
Known for its apples and picture-perfect tourist spots, Himachal Pradesh attracted 19.6 million tourists last year, 2.9 times of its population. It has 63 operational helipads across the state, as per the state's Economic Survey 2017-18.
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Rupee falls 1 paisa to fresh all-time low of 84.32 against US dollar
Mumbai, Nov 7: The rupee slipped 1 paisa to close at a fresh lifetime low of 84.32 against the US dollar on Thursday, as weak domestic equities and sustained foreign fund outflows dented market sentiment.
Forex traders said investors were also cautious ahead of the US Fed meeting outcome. Moreover, overnight gains in crude oil prices also weighed on the local unit.
However, a correction in the dollar index against major currencies helped the rupee and restrained the slide, they added.
At the interbank foreign exchange, the rupee opened at 84.26 against the US dollar. During the session, the local currency touched a high of 84.26 and a low of 84.38. It finally settled at 84.32, a loss of just 1 paisa against its previous close.
On Wednesday, the rupee depreciated 22 paise to close at an all-time low of 84.31 against the US dollar.
The rupee touched fresh record lows again on the back of weak domestic equities and sustained FII outflows. However, the softening of the US Dollar index from Wednesday's highs cushioned the downside, forex traders said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.22 per cent lower at 104.86.
Brent crude, the global oil benchmark, fell 0.32 per cent to USD 74.68 per barrel in futures trade.
"We expect the rupee to trade with a negative bias on overall strength in the US Dollar on the back of Donald Trump’s victory in the US Presidential elections and FII outflows. However, softening of commodity prices amid easing geopolitical risk premium may support the rupee at lower levels," said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas.
Any intervention by the RBI may also support the rupee at lower levels. Traders may take cues from weekly unemployment claims data from the US and FOMC meeting decisions. The Bank of England's monetary policy decision is also due.
"With Asian currencies down, US Dollar up, and yields up, the RBI does not have any option but to allow the rupee to fall to ensure that REER remains competitive for our exports.
"If the FOMC is a bit hawkish in its tone or does not cut rates today or says it will not cut in December, then we could see another fall in rupee to the extent of 84.50," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
BoE and FOMC are expected to cut interest rates by 25 bps. USD/INR spot price is expected to trade in a range of 84.15 to 84.60, Choudhary said.
In the domestic equity market, the 30-share BSE Sensex fell 836.34 points, or 1.04 per cent, to close at 79,541.79 points, while Nifty declined 284.70 points, or 1.16 per cent, to settle at 24,199.35 points.
Foreign institutional investors (FIIs) were net sellers in the capital markets on Thursday, as they offloaded shares worth Rs 4,888.77 crore, according to exchange data.
"Importers need to be covered for any imports to be paid in November and for December should buy any dip near 84. Exporters are likely to book on every uptick of 25 paise after watching the markets," Bhansali said.
