Reliance Jio being still in demand have craze among people, The owner of Reliance Jio company Mukesh Ambani said to the Telecom companies on Monday not to invest much on the new technologies as they are behind in their own work, as the company is facing financial difficulties instead of taking the matter seriously and working upon it, to over come the difficulties they are blaming themselves for the leveraging of balance sheet.
Reliance Jio is totally new in the competative market, After the Interministerial Group (IMG) met on Monday come to a conclusion that they need to increase there funds by selling stakes or can also invest in some new technology through internal accruals by which the funds of the company can be raised and it will provide stabelity to the market.
A senior official in Jio said that “by not including Jio the operators they need to invest Rs 1,25,000 as a pay back debt and they also need to work in technology investment also just to go with the date, the growth keep taking place in the data section….. which they can sell to maintain the balance.”
The employees over there blame themselves for their financial stress according to them “its their own creation” one of the official over there said that the required policy intervention can be done by reducing the GST rates, licence free and USO levies. By applying all these things the financial stress can be reduced till an limit.
After the IMG meeting which was over after 45 minute, One of the Jio officer showing his concern for the company said that the lowering of levies or tax can procreate Rs 20,000 to 25,000 crore additional EBITDA for the industry.
Meetings have been done and the matters have been consulted in the IMG meeting taking the matter seriously efforts have been made by the employees to reduce the financial stress as the financial difficulties faced by the sector is the serious matter. The tele companies are reeling under a huge depth of Rs 4.6 lakh crore debt, which not a small amount for which they are facing pressure upon themselves to pay the revenue. And at the same time the competative market and profitable business along with the buring financial matter got more excessive entry of Jio.