1. Govt Proposes Tax Incentives for Gift City
The government on Friday, 5 July, announced several tax incentives, including extension of deduction of 100 per cent of profits to 10 straight years, to units in the GIFT City, the country's first intenational financial services centre (IFSC).
Finance Minister Nirmala Sitharaman in her maiden budget also proposed exemption from dividend distribution tax from current and accumulated income to companies and mutual funds, exemptions on capital gain to Category-III AIF in order to promote the IFSC in GIFT City.
Experts said the measures hold significance as the GIFT IFSC alone can provide USD 1 trillion to Indian industry.
(Source: Economic Times)
2. BJP Nominees S Jaishankar, Jugal Thakor Win RS Bypoll from Gujarat
External Affairs Minister S Jaishankar and OBC youth leader Jugal Thakor, the two BJP candidates on Friday, 5 July, got elected to Rajya Sabha, Jaishankar getting one vote lesser than Thakor, even as five MLAs — from Congress, Bharatiya Tribal Party (BTP) and Nationalist Congress Party (NCP) voted for the BJP. The two Congress MLAs — Alpesh Thakor and Dhavalsinh Zala — resigned after cross-voting.
The by-elections were necessitated following election of BJP national president and union home minister Amit Shah and Union minister Smriti Irani to Lok Sabha. Against Jaishankar and Thakor, Congress had fielded two of its senior leaders Gaurav Pandya and Chandrika Chudasama respectively.
At the time of voting, Gujarat Assembly had total 175 members; 100 of BJP, 71 of Congress, two of BTP, one of NCP and one independent.
(Source: Indian Express)
3. Surat: Police Open Fire as Clash Breaks Out With People Protesting Against Mob Lynching
Tension gripped Surat as police opened fire and lobbed tear gas shells to disperse people protesting against the lynching of Tabrez Ansari Friday. The clashes between the protestors and police broke out in Nanpura area of the city.
People from a minority community led by Versatile Minority Forum president advocate Babu Pathan and his associates had taken out a rally to condemn the mob lynching Ansari reportedly without police permission.
Police lobbed tear gas shells and fired in the air to disperse the mob to control the situation as the organisers of the rally were arrested. The group had sought permission to take out the rally from Badekhan Chakla to Nanpura near Dotiwala bakery at Makkai pul circle, which was not granted.
(Source: Indian Express)
4. Haren Pandya Murder Case: SC Restores Conviction of Nine Accused
The Supreme Court on Friday, 5 July, restored the conviction and sentence imposed by the trial court against nine accused in former Gujarat Minister Haren Pandya murder case.
A bench of Justice Arun Mishra and Justice Vineet Saran said out of 12 accused two have already completed their sentence and of one accused the High Court had modified the order, so no interference was required with regard to three accused.
"We restore the conviction and sentence imposed by the Trial Court on Mohmed Asgar Ali, Kalim Ahmed, Anas Machiswala, Mohmed Yunus Sareshwala, Rehan Puthawala, Mohmed Riyaz, Mohmed Parvez Sheikh, Parvez Khan Pathan, Mohmed Faruq under Section 3 (1) and 3 (3) of POTA and 120B and Section 302 read with Section 120B IPC as ordered by the Trial Court. The appeals are accordingly disposed of," the Bench said in its verdict.
(Source: Business Standard)
5. Union Budget Will Create New India, Empower Women: Guj CM
Gujarat chief minister Vijay Rupani on Friday, 5 July hailed the 2019-20 Union Budget stating that it would lay the foundation of a new India and would also bring about women's empowerment in a major way.
"The budget presented by the first full-time woman finance minister (Nirmala Sitharaman) will lay the foundation for building a new India. The budget focuses on infrastructure development, water and renewable energy," he said.
"A woman finance minister has concentrated on women empowerment by giving 'nari tu Narayani' (woman is equivalent to God) slogan. Women's participation in economy will give wings to the development of the country," he added.
(Source: Business Standard)
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