Vodafone Idea reduces loss to Rs 7,176 crore in July-Sept quarter
Vodafone Idea has reduced its losses to Rs 7,176 crore in the July-September quarter of the current financial year from Rs 8,738 crore in the same quarter last year.
The Congress on Friday slammed the Narendra Modi-led government at the Centre over the reported increase in tariffs by three private telecom companies, stating that this has put an annual burden of Rs 34,824 crore on 109 crore cell phone users.
Addressing a press conference at the party headquarters, Congress general secretary Randeep Singh Surjewala said, “Reliance Jio, Bharti Airtel, and Vodafone Idea have increased their tariffs by an average of 15 per cent from 3rd July. The three private cell phone companies have a market share of 91.6 per cent, or 109 crore cell phone users, out of a total of 119 crore cell phone users as of 31st December 2023.”
Surjewala, who is the Congress MP in Rajya Sabha, asserted that this increase has put an annual burden of Rs 34,824 crore on 109 crore cell phone users.
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Stating that the cell phone market in India is an “oligopoly”, he said, “Reliance Jio has 48 crore cell phone users, Airtel 39 crore and Vodafone Idea 22.37 crore. Out of these, Jio and Airtel have a combined customer base of 87 crore, making them a virtual duopoly.”
Referring to the dates of the announcement of tariff hikes, the Congress leader said, “Firstly, the announcement dates of the tariff increase appear to be clearly in consonance among the three private cell phone companies. Secondly, the effective date of implementation for the increased tariffs is the same.”
Surjewala also posed a volley of questions to the ruling dispensation over the matter.
“How can private cell phone companies be permitted to unilaterally increase cell phone tariffs by Rs 34,824 crore annually without any oversight and regulation by the Modi government? Why have the Modi government and the Telecom Regulatory Authority of India (TRAI) abdicated their duty and responsibility towards 109 crore cell phone users?” he questioned.
He also questioned why the Modi government turned a blind eye to the matter.
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