Headlines November 19, 2019
Vodafone Idea, Airtel to raise prices
Telecom Company Vodafone Idea is all set to raise the prices of its mobile service plans. As per an announcement made by Vodafone Idea, the new rates will come into effect from 1 December, 2019.
Vodafone Idea recently reported a loss of ₹50,922 crore which is highest ever loss posted by any corporate in India. The new tariffs are expected to help the company make up for the huge losses.
After Vodafone Idea, Bharti Airtel also announced that it is increasing the prices of its mobile service plans.
The exact details of the new tariffs are yet to be made public however, postpaid plans and prepaid plans users, both may have to pay slightly more for the services received from these two companies from next month.
The two companies have been ordered by the Supreme Court to pay nearly Rs 80,000 crore to the government to clear their pending revenues. The order has added to the financial problems of the companies
“The acute financial stress in the telecom sector has been acknowledged by all stakeholders and a high level Committee of Secretaries (CoS) headed by the Cabinet Secretary is looking into providing appropriate relief,” said a statement by Vodafone.
“#Airtel posting a quarterly loss of Rs 23,045 crs #VodafoneIdea posted a quarterly loss of Rs 50,922 crs Days gone when these cos were looting @ 1GB per month data for Rs 400 Karma comes back,” tweeted social media user Sachin Joshi
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