There was a time not so long ago when in India, flying by plane was considered to by luxury but with Air Deccan's who opened the doors for cheap air tickets in India, everything has changed. They may not provide best of service but they are alright for there price. There are 5-6 cheap airlines working in India currently, IndiaGo Air, Air Deccan, GoAir, SpiceJet, AllianceAir and Paramount. Many of them only work on selected routes though. Here is a much more detailed review of each of them. I hope you will find it informative.
INDIGO AIR : Indigo air is a domestic low cost airline. It offers economical services to the passengers. Seats are comfortable, the staff is good. Services offered are good. Though it is a budget airline, still its services are like those of the premium range. The ground staff is also helpful. It operates in most of the major areas in India and so you can take their service in most of such areas.
Air Deccan : When you want a cheap airline for the common people, you can try Air Deccan. It is cheap but the service is not bad. The behavior of the cabin crew and ground staff is good. It is based in Bangalore. It has 350 flights to 64 destinations.
Some of the planes are old. You may not like the look. The inside may not be as good as others. There is frequent occurrence of flight cancellation. Air Deccan does not provide food in most of the flights. You have to buy it from them at a high price in the flight.
Go Air : It is based in Mumbai. It offers services to 13 cities with 385 weekly flights. It is a property of Wadia group. It is a cheap and no frill airline. This is a new airline which wants to provide the cheapest air tickets to the passengers. This is a new start up and will need some time to boost up its business.
Spicejet : It is again a cheap airline. It is based in New Delhi. Spicejet tries to provide air tickets so cheap that it almost matches with the AC fares of Indian Railways. It offered tickets at very low rates. Now also its rates are lower than many other airlines. It offers budget tickets to the passengers. Try it; the services are also good in Spicejet.
Alliance Air : It is a cheap airline in India which operates 357 weekly flights to 24 destinations. It is based in Delhi and it a subsidiary of Indian. Now the future of this airline is in dark as Indian may convert 5 Boeing 737-200 into freighters.
Paramount : Paramount is an airline that was started an industrial family from South India. It offers business class facilitates at economy class fares. It mainly connects the metros. You can expect true value of your money from Paramount Airline.
Check there websites, find the routes and availability. Again let me tell you, If you DO not expect much from them, you won't get much to complaint about there service either.
Edit - I will cover How to get cheap tickets in these airlines in next article 
as I wanted to write lot of thing about it
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