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Companies increase prices due to losses and low profits, reduce discounts

Tuesday - December 3, 2019 2:21 pm , Category : BUSINESS
Telecom companies give a big shock to their consumers
Telecom companies give a big shock to their consumers

...Now the inflation time arrives!

DEC 03 (WTN) - So now this is the time for inflation! Yes, now the era of inflation has come. Due to economic slowdown, 90 percent of the world's economies are affected these days. But fast-growing economies like India and Brazil have had the greatest impact on the economic slowdown. As far as the Indian economy is concerned, the GDP growth rate in the second quarter of the current financial year has been only 4.5 percent due to the economic slowdown. Statistics show that the country's economy has suffered a major setback due to the global economic slowdown and for this reason the services that you were getting till now at cheaper prices or free; now you have to pay more for them than before.

First of all, let's talk about your mobile phone bill. So for your information, let us know that due to the Supreme Court's decision on AGR i.e. Adjusted Gross Revenue, telecom companies have now made their tariffs expensive. For your information, let us know that since a decision of the Supreme Court, the telecom companies have to pay huge revenue to the government under the AGR and for this reason, the telecom companies are incurring huge losses.

For the information, let us know that in the second quarter of the current financial year, Vodafone had to face the biggest loss of Rs 50,922 crore in the Indian corporate world. Apart from this, the company also has a huge liability of Rs 1.17 lakh crore. At the same time, another telecom company Airtel incurred a loss of Rs 23,045 crore in the second quarter of this financial year.

Due to continuous losses to telecom companies, these companies now have no other option but to increase the tariff. For this reason, loss-making telecom companies have given a big blow to their prepaid customers. If it is said bluntly, so the days of free and cheap calling and internet data are gone. Major telecom companies like Reliance Jio, Airtel, and Vodafone-Idea have announced a steep increase in tariffs for their prepaid products and services. It is estimated that due to the increase in tariff by the telecom companies, the mobile bill of the customers can be increased by up to 50 percent.

Let us know that Bharti Airtel and Vodafone-Idea have announced an increase in their tariff by 15 to 40 percent which will be applicable from December 3. At the same time, Reliance Jio has also announced an increase of up to 40 percent in the new tariff plan. Reliance Jio said in a statement that its new plan 'All in one' will be implemented from December 6.

After the increase in the tariff by the telecom companies, it is natural that the monthly cost of mobile of people can increase by 15 to 40 percent. On the other hand, if you order food from online food delivery companies, then for your information, let us know that the service of food delivery companies like Zomato, Swiggy, and Uber Eats has also become more expensive than before because these companies are now reducing the discount.

According to the information, after the increase in orders for the last 18 months, the business of online food delivery companies has started to slow down. This is the biggest reason that these companies are now gradually reducing the discount being given to customers. According to economics experts, since August this year due to the economic slowdown, the growth rate in many sectors has come down to 1 to 2 percent. Food delivery companies are getting fewer orders than before due to various other reasons, including low demand in industries, low production in industries or temporary shutdown and loss of jobs. For this reason, food delivery companies like Zomato, Swiggy, and Uber Eats have reduced promotions along with discounts to earn their profits.

According to the information, the popular three food delivery companies like Zomato, Swiggy, and Uber Eats received an average of 18 lakh orders in the month of January, which increased to 30 lakh in the month of June. But after this, the orders received by these companies started to decline. That is the figures are clearly showing that the economic slowdown has had a big impact on the business of food delivery companies.

However, some experts believe that festivals and seasons also have an impact on food orders. Food delivery is usually less on festivals, as people are employed at their homes during this period. However, it is not that food delivery companies are incurring losses, but simply their profits are not increasing as before. Now in order to increase profits, these companies are working on a policy of increasing their profits by cutting discounts.

So in the coming times, you should be prepared for more bills on mobile phones and less discount on online food orders, because loss-making and low-profit companies are going to increase prices to make up for it. That is let’s forget about free mobile calling and cheap net plans, now do not expect more discounts from food delivery companies.