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Wednesday,01-December-2021

Business

Bharti Airtel picks up stake in Cloud analytics startup Waybeo

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Telecom major Bharti Airtel on Wednesday said it has picked up a strategic stake in cloud analytics startup startup Waybeo under the Airtel Startup Accelerator Programme.

Thiruvananthapuram-headquartered Waybeo, focused on deep Artificial Intelligence-based analytics for Cloud telephony, is the fifth startup to join the fast-growing Airtel Startup Accelerator Program, which helps promising startups unlock their potential.

The Airtel Startup Accelerator Programme allows startups to leverage Airtel’s robust ecosystem, including its core strengths in data, distribution, networks and payments.

“We are really focused on enterprise adoption for our call intelligence tools. Most of the enterprises drive hundreds of thousands of phone calls a month,” Krishnan R V, CEO, Waybeo, said in a statement.

“There is no analytics, no automation, and no means to optimise the customer experience. We look at strategic investment from Airtel as an opportunity to scale our technology and enterprise reach.”

Waybeo has built cutting-edge analytics tools for the enterprise cloud telephony segment and under the Airtel Startup Accelerator Programme, Waybeo’s solutions will get larger distribution reach while giving Airtel access to Waybeo’s proven as well as emerging technologies.

Airtel serves over 2,500 large enterprises and more than a million emerging businesses with an integrated product portfolio, including Airtel Cloud, a multi-cloud product and solutions business.

“Cloud technologies are transforming the way businesses serve and delight their customers,” said Adarsh Nair, Chief Product Officer, Bharti Airtel.

“We are thrilled to onboard Waybeo to our Startup Accelerator programme and provide them a platform to scale up their technologies as part of Airtel’s world-class cloud services ecosystem.”

Business

Delhiites suffered due to Kejriwal’s delayed decision on petrol prices: Manoj Tiwari

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BJP MP Manoj Tiwari on Wednesday said had the Delhi government reduced VAT on fuel soon after the Centre’s decision to lower the prices of petrol and diesel, Delhiites’s hard-earned money would not have been wasted.

“Kejriwal looted the people of Delhi for 27 days! The late decision (on reducing VAT on petrol) has once again proved that he does not care about the people! Had the decision been taken 27 days ago, the people of Delhi would not have lost crores of rupees,” Tiwari said in a tweet in Hindi this afternoon.

Petrol prices in the national capital have fallen by Rs 8 per litre after the Delhi government cut down Value Added Tax (VAT) on the fuel to 19.40 per cent from earlier 30 per cent.

This decision was taken after the chief minister chaired a Cabinet meeting over the issue. Till now, the petrol is being sold at Rs 103.97 and new rates will come into effect from midnight.

Meanwhile, the diesel rate in Delhi stands at Rs 86.67. In Mumbai, which is having the highest fuel rates among metro cities, petrol is retailed at Rs 109.98 per litre while diesel is being sold at Rs 94.14 per litre.

On November 4, the Centre had reduced petrol and diesel rates by Rs 5 and Rs 10 per litre respectively. Post the move, the Opposition parties in Delhi have been urging the AAP-led state government to cut VAT on petrol by at least Rs 10 per litre.

Following the Central government’s announcement, as many as 25 states and Union Territories reduced Value Added Tax (VAT) on petrol and diesel to provide relief to consumers.

A majority of these states are either ruled by the Bharatiya Janata Party (BJP) or its allies.

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Nov GST collection rises to over Rs 1.31 lakh Cr

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 India’s GST collection rose on both sequential and year-on-year basis in November.

Accordingly, the gross GST collection rose to Rs 1,31,526 crore last month.

This was the second straight month when the gross GST collection crossed Rs 1.30 lakh crore.

Besides, the GST revenue for November 2021 was 25 per cent higher than the corresponding period of last year and 27 per cent over the like month of 2019-20.

As per the Ministry of Finance, out of the total gross collection, CGST’s share was Rs 23,978 crore, SGST was Rs 31,127 crore, IGST about Rs 66,815 crore and Cess was Rs 9,606 crore.

“The GST revenues for November 2021 have been the second highest ever since the introduction of GST, second only to that in April 2021, which related to year-end revenues and higher than last month’s collection, which also included the impact of returns required to be filed quarterly,” the ministry said.

“This is very much in line with the trend in economic recovery.”

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Business

Petrol prices cut by Rs 8/litre in Delhi

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Petrol prices in national capital fell by Rs 8 per litre on Wednesday after the Delhi government cut down Value Added Tax (VAT) on the fuel to 19.40 per cent from earlier 30 per cent.

New rates will come into effect from midnight.

This decision came after Chief Minister Arvind Kejriwal chaired a Cabinet meeting this morning.

Currently, the petrol is being sold at Rs 103.97.

In early November, the Centre had reduced petrol and diesel rates by Rs 5 and Rs 10 per litre respectively. Post the move, the Opposition parties in Delhi have been urging the AAP-led state government to cut VAT on petrol by at least Rs 10 per litre.

In India, fuel prices differ from state to state depending on the local taxation (VAT) and freight charges. Besides, the central government charges an excise duty on auto fuels. After adding excise duty, dealer commission and VAT, the retail selling price of the petrol gets nearly doubled.

From June 2017 onwards, the petrol and diesel prices in India are being revised daily at 6 a.m. via the dynamic fuel price method. Earlier, this exercise used to take place every fortnight.

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