India’s government-owned telecommunication agencies plan to wipe out the waiting list for telephones by March 1995 with 1m new lines in Delhi and Bombay and 3.3m in the rest of the country in two years: the lines in Delhi and Bombay, managed by the state-owned Mahanagar Telephone Nigam Ltd will cost $765m with funds from internal accruals and lease funds of $494m and a Euroissue or domestic bond issue; lines for the rest of the country will cost $956m; the government estimates a requirement of $13,000m in the five year plan for upgrading telecommunciations; the rest will be from leasing, joint ventures, the private sector and borrowing.
