For users who want it and can afford it, INR 349 is okay for the service they are offering. It seems it is more about data transfer, and the exclusive sticker animations, etc. are simply bonuses thrown in to try and lure a standard user who does not have a need for heavy data transfer.
I feel this model is better still, surely more than 3% of users are power users of Telegram, and if they are made to pay for the service, it is alright. For me, I just do not trust Facebook, and would instead pay to use Telegram.
Software was meant to be paid anyway. It is when users started getting free apps (that would rape their privacy in return for not billing them for the apps) that users became spoilt irrevocably. If Twitter were to charge INR 499 per month, I am sure the dispensation would have trouble sustaining the trolls that we see on the platform. Same for Facebook.