HDK’s actor son Nikhil likely to contest LS polls from Mandya, Revanna’s son Prajwal from Hassan

Bengaluru, Apr 1: The price of petrol and diesel will go up by Rs 1.60 and Rs 1.59 per litre, respectively, from Wednesday. This is in line with Chief Minister B S Yediyurappa’s decision to hike the rate of tax on petrol from 32% to 35% and diesel from 21% to 24%.

He had announced this in his March 5 Budget for 2020-21 fiscal. At present, a litre of petrol costs Rs 71.97 and diesel Rs 64.41 in Bengaluru.

The government decided to roll out the hike from Tuesday midnight going into Wednesday, April 1, after briefly considering a postponement in view of the COVID-19 crisis. 

Finance Secretary (Budget & Resources) Ekroop Caur confirmed to DH that the hike will be rolled out. 

The 3% hike on fuel tax was a key resource mobilisation measure that Yediyurappa announced in his Budget. The hike is expected to fetch the government Rs 1,500 crore. 

Yediyurappa had also announced a 6% additional excise duty on Indian Made Liquor (IML), which could help the government mop up Rs 1,200 crore. However, the sale of liquor has been prohibited during the lockdown period. Plus, hiking fuel prices during the lockdown will not hit citizens very hard. 

Bengaluru, Mar 4: With the number of Coronavirus positive cases in India increasing, health department officials in Karnataka are working round the clock to keep citizens safe.

But citizens are already panicking with 97 people in Bengaluru rushing to the government-run Rajiv Gandhi Institute for Chest Diseases (RGICD) on Tuesday with symptoms matching the coronavirus.

Karnataka Chief Minister BS Yediyurappa has now appealed for calm saying there is no coronavirus in the state.

"There is a difference in what appears in the media and what is on the ground. No need to panic. PM Modi is also looking into this. My health minister addressed the media and no one needs to panic. We are ready to tackle the situation," he added.

Dr. Nagaraj, director of RGICD, said the screening process began at the hospital on January 22 and they would see some 15-20 patients and take 5-6 swabs.

"Because of apprehensions, we saw 978 patients and took 27 swabs. We have also admitted 4 patients in the isolation ward," he added.

As of today, there are 5 patients admitted in the isolation ward of RGICD. Two came in close contact with the infected techie in Telengana and three foreign nationals from Japan, Saudi Arabia, and Iran.

Tech parks on high alert

At the Manyata Tech Park in the city, a company sent out a circular regarding one of their associates who had travelled from a Level 3 country to India and had flu-like symptoms.

It says that the associate was advised to receive necessary screening and observation as mandated by the Karnataka State Health Department. The associate was screened by an authorized medical agency and determined to be asymptomatic.

As of Wednesday, the company located in the G3 campus of Manyata Tech Park has begun disinfecting and sanitizing the work location and all associates working out of this location have been advised to work from home until March 6.

A statement issued by Embassy spokesperson on March 4 to India Today TV indicated the authorities have activated their response plan.

"As of March 4, we are not aware of a single positive case for the virus in more than 2,00,000 people who work in our business parks. We do understand that one employee of a company at one of our parks who had travelled from a Level 3 country was screened in the last 36 hours and determined to be asymptomatic.

As a precaution, the premises are being disinfected and sanitized. The fact remains, we are not aware of a single confirmed case within over 15 business parks across India," the statement said.

Bengaluru, Jan 10: Education technology company Byju’s is learnt to have raised $200 million in a funding round from Tiger Global Management, which has valued the Bengaluru-based start-up at around $8 billion, making it the third-largest unicorn (start-up valued over $1 billion) in the country.

With this, the Byju Raveendran-founded company has seen over 50 per cent jump in its valuation in just around nine months. In March 2019, Byju’s was valued $5.4 billion, when it raised around $31 million from General Atlantic, and Chinese investment giant Tencent.

At the current valuation, Byju’s has now replaced home-grown cab-hailing major Ola as the third-largest unicorn, next only to Paytm and OYO, which are valued around $16 billion and $10 billion, respectively.

Byju’s confirmed the transaction through a press statement, though the company declined to share any specific details of the deal. Tiger Global could not be immediately reached for its comments.

“We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long-term vision of creating an impact by changing the way students learn,” said Raveendran. “This partnership is both a validation of the impact created by us so far and a vote of confidence for our long-term vision.”

This is Tiger Global’s first investment in the edutech space in India after Vendantu, an online tutoring platform, where it, along with WestBridge Capital, led a $42-million round in August.

An early backer of India’s internet growth story, the New York-headquartered Tiger Global has been a prolific investor in the Indian start-up space. Its portfolio in the country ranges from consumer focused e-commerce companies that are vital for the growth of the sector, such as Flipkart, Delhivery, Grofers, Quikr and PolicyBazaar, to mention a few.

After tasting success with Flipkart, one of its earliest investments, where it had pumped in around $1 billion, the PE major is now doubling down its focus on the Indian start-up space, under its new investment head Scott Shleifer.

Shleifer, who set up international private equity practice for Tiger Global, is said to be as aggressive deal maker like his predecessor Lee Fixel, who left the investment firm in March. Since then, Tiger has also invested in a host of technology-focused companies in diverse sectors including Ninjacart, CRED, NoBroker and Facilio to mention a few.

“Byju’s has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India,” Shleifer was quoted in the press statement issued by the edutech firm.