Vodafone Idea to increase prepaid and postpaid plan prices from December 1

The announcement comes at the time when Vodafone is struggling to keep up with its AGR-related dues of Rs 44,200 crore.

HIGHLIGHTS

• Your phone calls, data and SMS made from Vodafone Idea network will soon cost you more.
• he announcement comes at the time when Vodafone is struggling to keep up with its AGR-related dues of Rs 44,200 crore
• Nick Read had called the situation of the company's India venture critical.
• our phone calls, data and SMS made from Vodafone Idea network will soon cost you more. In a major change to the existing tariff rates, Vodafone Idea has announced to increase the tariffs from December 1, 2019.
  "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. To ensure that its customers continue to enjoy world class digital experiences, Vodafone Idea will suitably increase the prices of its tariffs effective 1 December 2019," the company said in a press statement.
  The announcement comes at the time when Vodafone is struggling to keep up with its AGR-related dues of Rs 44,200 crore to the government. Analysts have predicted that this due could further rise placing the company's balance sheet in a more critical position.
  Not everything seems good at the Vodafone. Company's CEO Nick Read called the situation of the company's India venture critical. " If you don't get the remedies being suggested, the situation is critical," Vodafone CEO Nick Read was quoted by the report," he was quoted by Bloomberg.
  On October 30, reports started pouring in that the Vodafone Idea is ready to "pack up and leave any day now" due to the mounting losses of the company and dwindling market capitalisation which was affected the balance sheet of Vodafone Idea. The company later dismissed the reports calling it malicious and added that its India venture was going through challenging times but it wasn't looking at any exit.