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Hello NewHere, I hope you are fine. Thank you for posting in GoDaddy community. You are right. You are right. But every year businesses increase or decrease and its all depends on the worldwide economic situation. I think after a year the increment of Rs. 50 is not a big change. It's affordable. This increment is for all customers not the single one. As you pay taxes in your country and every resident of that country follow GOV laws and policies. Same GoDaddy is a worldwide domain and hosting provider. Everyone follow their rules and policies.
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We're sorry to hear that our price increase has caused you dismay. However, as the Registries (that provide the domains) increase their prices, so must GoDaddy increase them to the customer. The only way to lock in a price is to renew for multiple years, so you don't have to bear yearly required increases. We don't base our prices on a sliding scale for use of domains (like royalty-use on views), but for global acquisition.