Search engine giant, Google Inc (NASDAQ:GOOG) significantly lowered the prices for its Google Drive monthly storage plans. Recent infrastructure improvements enabled the company to offer cheaper cloud service than its competitors.

In a blog post, Scott Johnson, director of product management at Google Inc (NASDAQ:GOOG) wrote, “Thanks to a number of recent infrastructure improvements, we’re able to make it [Google Drive] more affordable for you to keep everything safe and easy to reach on any device, from anywhere.”

The search engine giant is now offering the Google Drive 100GB storage plan for only $1.99 per month, which was previously $4.99.  For the whole year, Google Drive’s 100GB storage plan costs $23.88.

The price of Google Inc (NASDAQ:GOOG) is substantially cheaper than Dropbox and Microsoft Corporation (NASDAQ:MSFT), which offer the same amount of storage for $99 and $50 per year, respectively

Google Inc (NASDAQ:GOOG) also cut the prices for Google Drive 1TB storage plan from $49.99 to $9.99 per month and its 10TB storage plan costs $99.99.  The search engine giant is still offering the 15GB storage plan for free.

Some people are curious how big 1TB storage is, and how much information will they be able to save in it. Johnson said, “Well, that’s enough storage for you to take a selfie twice a day for the next 200 years and still have room left over for… shall we say… less important things. Like before, storage continues to work across Drive, Gmail and Google+ Photos.”

Separately, Google Inc (NASDAQ:GOOG) recently announced a new opportunity for people based in Canada and United States to make money through its Google Apps for Business referral program.

Participants in the Google Apps for Business referral program will earn $15 for every person they refer who will sign up and pay for the service for at least 120 days.

Individuals interested in joining the referral program will only need to provide his or her name, e-mail address, a valid taxpayer ID number, and a bank account to receive direct deposits.