Reliance Jio has reportedly crossed the 50 million subscriber mark in just 83 following its 4G services launch. Jio has emerged as the biggest broadband operator in India. A PTI report said that Jio set a record of acquiring 1,000 customers each minute and 6 lakh each day, since its launch on September 05. A source told PTI, “Jio continues to be the fastest growing company in the world and has crossed 50 million subscribers in record 83 days.”
This is a landmark in the telecom world as other networks took years to reach the 50 million customers mark. While Vodafone took 13 years, Airtel achieved it in 12 years. Meanwhile, Reliance Jio which launched in September already had 16 million customers in the first month itself. Cellular association COAI has reported that altogether Vodafone had 201.9 million customers in October while Bharti Airtel
had 262.67 million and Idea Cellular had 180.25.
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The transaction cost of the government’s demonetisation exercise is projected to be about Rs 1.28 lakh crore during the 50-day window till December 30, 2016, according to Centre for Monitoring Indian Economy (CMIE) estimates. According to Mahesh Vyas, the managing director and chief economist of CMIE, the exercise can only be considered worth if the government is able to unearth unaccounted cash worth at least the transaction cost. “If the government succeeds in unearthing even Rs.4 trillion unaccounted cash, then the transaction cost of this exercise would be about 26 per cent. It would be over 43 per cent if the unearthed cash is Rs.3 trillion,” Vyas said in his research note.
Though welcomed by many across the country, the government’s decision to demonetise higher currencies has left many in the lurch and utter state of confusion. The study also warned the impact of the rudimentary step could impact the economy over a longer period.
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