Mobile data rates will see a further drop to as low as Rs 2.7 per GB with Reliance Jio announcing extra 500 MB data for its users of select plans as part of 'Republic Day offer', says a Bank of America Merrill Lynch report.
As per calculations done by the BoFA-ML analysts, per GB data will cost Rs 2.7 under the Jio's Rs 448 and Rs 498 plans, under which the company will offer 2GB 4GB data per day and speed will reduce after the limit is consumed.
These plans have validity of 84 and 91 days, respectively. Earlier, under the 'Happy New Year offer', Jio had reduced cost of data per GB to Rs 4.
"The new tariffs imply 25-33 per cent implied tariff cuts. This is the second "implied tariff" cut by Jio this month and signals Jio's intention to continue to focus on sub additions until it reaches a particular scale. Jio also introduced a new plan for Rs 98 that provides access to 2G data per month – this looks more like a feature phone offering," the report said.