Abu Dhabi's SWF becomes first notified fund to get 100% I-T exemption

News Network
November 3, 2020

New Delhi, Nov 3: Abu Dhabi's Sovereign Wealth Fund (SWF) -- MIC Redwood 1 RSC Limited -- became the first foreign SWF to be notified and granted 100 per cent income tax exemption for long term investments to be made in specified priority sectors, the Union Finance Ministry said in a statement on Tuesday.

The MIC Redwood 1 RSC Limited of Abu Dhabi has been provided 100 per cent income-tax (I-T) exemption to income from interest, dividend and long-term capital gains for its investment in India's priority sector as per the Finance Act, 2020.

With the notification from Central Board of Direct Taxes (CBDT), MIC Redwood 1 RSC Limited of Abu Dhabi became the first notified SWF which will be availing this exemption.

"This 100 per cent income-tax exemption facility was well received by the SWFs and Pension Funds across the globe and a large number of SWFs and Pension Funds have shown interest in making an investment in India's infrastructure sector," the statement read.

CBDT had issued detailed guidelines to facilitate the process of SWF's notification.

Notified foreign pension funds were also granted similar exemption subject to fulfilment of certain prescribed conditions.

Speaking under conditions of anonymity, a senior level official said that to expedite foreign investment in India's priority areas during the Covid pandemic time, the process of notification of the MIC Redwood 1 RSC Limited was completed in a record time.

"On September 18, 2020, the MIC Redwood 1 RSC Limited made an application for seeking tax-exemption notification as per the CBDT guidelines. Amidst the challenges of Covid-19, all deliberations and meetings between applicant and tax authorities were held virtually through video conferencing and communications were made only through emails. The MIC Redwood 1 RSC Limited submitted its final replies on October 20, 2020 and after that the process of notification including consultation with Ministry of Law and Justice for legal vetting of the notification, etc. has been completed in less than two weeks," he said.

The official further added that with the completion of all legal and other formalities the notification granting 100 per cent tax-exemption was issued on November 2, 2020.

The Government of India in order to incentivise long-term investment by the SWFs of the foreign governments in the priority sectors, had granted through the Finance Act, 2020, a 100 per cent income-tax exemption to income of a notified SWF in respect of its investment made in the specified infrastructure sectors.

The Government of India had issued a notification on July 6, 2020 to broaden the scope of this exemption and made all sub-sectors of Harmonised Master List of the infrastructure eligible for this income-tax exemption.

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Khursheed alam
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Saturday, 7 Nov 2020

Sir please green singnal

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News Network
January 23,2026

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The Voice of Hind Rajab, inspired by the tragic final moments of a young Palestinian girl killed by Israeli fire in Gaza, has been nominated for an Academy Award in the Best International Feature Film category.

Directed by Tunisian filmmaker Kaouther Ben Hania, the film recounts the true story of five-year-old Hind Rajab, who lost her life in January 2024 while fleeing Israeli bombardment with her family.

The film features the real audio of Hind’s desperate call to the Palestinian Red Crescent Society, where she pleaded for help moments before the vehicle she was in was struck by 355 bullets.

The haunting narrative begins with a brief call made from the besieged Tel al-Hawa neighborhood of Gaza, where gunfire and armored vehicles drowned out every sound.

After witnessing the brutal killing of her family, she made a trembling call, her voice reduced to a whisper as she spoke of the massacre and her unbearable loneliness as the sole survivor.

Premiering at the Venice International Film Festival in September 2025, The Voice of Hind Rajab garnered widespread acclaim, receiving a record-setting 23-minute standing ovation and the Silver Lion Grand Jury Prize, the festival’s second-highest honor.

In her acceptance speech, Ben Hania dedicated the film to humanitarian workers and first responders in Gaza, emphasizing that Hind's voice symbolizes countless civilians affected by war.

She aims to give voice to victims often reduced to mere statistics, highlighting the broader suffering of civilians in war zones.

The film’s Oscar nomination underscores its powerful storytelling and ethical approach to depicting real-life tragedy, making it a crucial piece of contemporary cinema.

It serves not only as a narration of individual tragedy but also as an artistic and documentary response to the silence and censorship that often overshadow West Asian struggles and wars.

Using an innovative method she calls docufiction, Ben Hania bridges unvarnished reality and narrative structure, creating a work that is both artistically valuable and socially impactful.

Born in 1977 in Sidi Bouzid—later the epicenter of the Arab revolution—her background profoundly influenced her worldview and artistic approach.

She is a graduate of the Higher School of Audiovisual Arts of Tunis, Pantheon-Sorbonne University, and La Fémis in Paris, where her studies equipped her with the technical and theoretical tools needed to address complex subjects. 

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News Network
February 1,2026

Bengaluru, Feb 1: For travelers landing at Kempegowda International Airport (KIA), the sleek, wood-paneled curves of Terminal 2 promise a world-class welcome. But the famed “Garden City” charm quickly withers at the curb. As India’s aviation sector swells to record numbers—handling over 43 million passengers in Bengaluru alone this past year—the “last mile” has turned into a marathon of frustration.

The Bengaluru Logjam: Rules vs Reality

While the city awaits the 2027 completion of the Namma Metro Blue Line, the interim has been chaotic. Recent “decongestion” rules at Terminal 1 have pushed app-based cab pickups to distant parking zones, forcing weary passengers into a 20-minute walk with luggage.

“I landed after ten months away and felt like a stranger in my own city,” says Ruchitha Jain, a Koramangala resident. “My driver couldn’t find me, staff couldn’t guide me, and the so-called ‘Premium’ lane is just a fancy tax on convenience.”

•    The Cost of Distance: A 40-km cab ride can now easily cross ₹1,500, driven by demand pricing and airport surcharges.

•    The Bus Gap: While Vayu Vajra remains a lifeline, its ₹300–₹400 fare is often cited as the most expensive airport bus service in the country.

A National Pattern of Disconnect

The struggle is not unique to Karnataka. From Chennai’s coast to Hyderabad’s plateau, India’s airports tell a familiar story: brilliant runways, broken exits.

City:    Primary Issue   |    Recent Development

Bengaluru:    Cab pickup restrictions & distance  |    App-based taxis shifted to far parking zones; long walks and fare spikes reported

Chennai:    Multi-Level Parking (MLCP) hike  |    Passengers report 40-minute walks to reach cab pickup points

Hyderabad:    “Taxi mafia” & touting  |    Over 440 touting cases reported; security presence intensified

Mumbai:    Fare scams  |     Tourists charged ₹18,000 for just 400 metres, triggering police action

In Hyderabad, travelers continue to battle entrenched local groups that intimidate Uber and Ola drivers, pushing passengers toward overpriced private taxis. Chennai flyers, meanwhile, complain that reaching the designated pickup zones now takes longer than short-haul flights from cities like Coimbatore.

The ‘Budget Day’ Hope

As Finance Minister Nirmala Sitharaman presents the Union Budget 2026 today, the aviation sector is watching closely. With the government’s renewed emphasis on multimodal integration, there is cautious hope for funding toward seamless airport-metro-bus hubs.

The vision is clear: a future where planes, trains, and metros speak the same language. Until then, passengers at KIA—and airports across India—will continue to discover that the hardest part of flying isn’t the thousands of kilometres in the air, but the last few on the ground.

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News Network
January 28,2026

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Mumbai: The sudden death of Maharashtra Deputy Chief Minister Ajit Pawar in a plane crash in his hometown of Baramati has plunged the state into political uncertainty, raising a pressing question for both the Nationalist Congress Party (NCP) and its rival faction, the Nationalist Congress Party (Sharadchandra Pawar): what next?

For the two factions that emerged after the dramatic split of June–July 2023, the moment marks their gravest challenge yet. Many believe the answer now rests with party founder Sharad Pawar.

Sharad Pawar, who founded the NCP in 1999 after parting ways with the Congress over Sonia Gandhi’s foreign origin, has already indicated his intention to step away from electoral politics once his Rajya Sabha term ends in April 2026.

Speaking at a public event in Baramati ahead of his 85th birthday on December 12, 2025, Pawar said he would not contest any further elections. “I have contested 14 elections. The younger generation needs to be given an opportunity,” he said, adding that he would decide later whether to seek another Rajya Sabha term.

Often described as the Bhishma Pitamah of Indian politics, Pawar also spoke of his gradual withdrawal from active leadership. “For the first 30 years, I handled everything. For the next 25–30 years, Ajit Dada handled responsibilities. Now, arrangements must be made for new leadership,” he said.

Ajit Pawar’s death has dramatically altered that transition, especially as he was working towards reunifying the two NCP factions.

“After the developments of June–July 2023 and the 2024 Lok Sabha and Vidhan Sabha elections, there were deep changes within the family and the party. In the last six months, serious efforts were made to reunite. Even workers from both sides wanted unity. This is a massive blow,” a Pawar family insider told DH over phone from Baramati.

Electoral outcomes over the past year reflected the split. In the 2024 Lok Sabha elections, NCP (SP) recorded the best strike rate in Maharashtra, winning eight of the 10 seats it contested. The NCP, by contrast, won just one seat out of four.

However, the trend reversed in the subsequent Vidhan Sabha elections, where the NCP emerged stronger, securing 41 of the 288 seats, while NCP (SP) managed only 10.

Within NCP (SP), Sharad Pawar’s daughter Supriya Sule serves as Working President, followed by leaders such as Rohit Pawar, state president Shashikant Shinde and former state chief Jayant Patil.

In the NCP, Praful Patel is the Working President and Raigad MP Sunil Tatkare heads the state unit. Ajit Pawar’s wife, Sunetra Pawar, is a Rajya Sabha MP, while their sons Parth and Jay are not actively involved in day-to-day politics. Parth Pawar briefly entered electoral politics in 2019 but lost the Lok Sabha election from Maval. Jay Pawar’s political debut was under consideration.

With Ajit Pawar gone, speculation has intensified that a member of the family may be asked to assume a larger role. For now, Sunetra Pawar is expected to play a key coordinating role in party affairs, alongside Patel and Tatkare.

The NCP continues to have several heavyweight leaders, including Chhagan Bhujbal, Hasan Mushrif, Dattatreya Bharne, Manikrao Kokate and Dhananjay Munde.

Ajit Pawar had already begun steps towards reconciliation between the two factions. While they contested the Pune and Pimpri-Chinchwad municipal elections separately, they later decided to fight the zilla parishad elections together under the ‘clock’ symbol—seen as the first formal step towards reunification.

Nagpur meet and party roadmap

Both NCP factions claim adherence to the ideology of ‘Shiv–Shahu–Phule–Ambedkar’. At the Rashtravadi Chintan Shivir held in Nagpur on September 19, 2025, the NCP reaffirmed its commitment to sarva dharma sambhav and discussed strengthening ties with the BJP “for the welfare and development of Maharashtra”.

In recent days, reports had suggested Ajit Pawar might return to the Maha Vikas Aghadi following the party’s poor performance in Pune municipal elections, but these claims were denied.

Big question for Maha Yuti

Ajit Pawar’s death also presents an immediate challenge for the Devendra Fadnavis-led Maha Yuti government. Pawar held crucial portfolios, including Finance, Planning and Excise. With the Budget Session approaching, appointing a new Finance Minister has become urgent.

Beyond numbers and portfolios, Maha Yuti has lost a swift decision-maker known for his administrative grip and political finesse—leaving a vacuum that will not be easy to fill.

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