Gujarat Current Affairs

World famous Rath Yatra of Lord Jagannath begins

The annual Rath Yatra (Chariot Festival) of Lord Jagannath began different parts of the country. The festival is celebrated on second day of Sukla Paksha i.e. the day in bright fortnight of Ashadha month. It will see congregation of more than 10 lakh devotees.

In Odisha, the Rath Yatra in the coastal city of Puri began at 12th century Jagannath temple.

Celebrations: The nine-day-long festival marks the annual journey of Lord Jagannath, his brother Lord Balbhadra and sister Subhadra to the Gundicha temple. They are taken in their respective chariots to the Gundicha temple, place of their aunt’s house. During this traditional procession, the chariots carrying these deities are pulled by thousands of devotees. The celebration ends nine days later with Bahuda Yatra or return journey to their temple.

In Gujarat, 139th annual Rath Yatra of Lord Jagannath began in Ahmedabad. The historic Rath Yatra began from 400 years old Lord Jagannath Temple in Jamalpur area of old city.

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Gujarat Government announces IT policy to promote IT-based start-ups

The Gujarat government has announced its first ever IT and Electronics Start-up Policy which will be applicable only to IT and electronics related start-ups.

The policy has special focus on encouraging new ventures by providing them various incentives and subsidies.

Under this policy

  • State Government will develop 50 new incubators to mentor and guide 2,000 start-ups in the next five years.
  • Around 10 lakh sq feet of land has been allotted for development of these incubators, which will provide guidance to budding innovators in setting up their start-up units.
  • State government will provide 50% capital investment assistance, in the limit of 50 lakh rupees, for setting up an incubator.
  • Incubators will be entitled to get 5 lakh rupees each year as mentoring assistance and the state government will give 1 crore rupees as assistance for the procurement of software to these incubators.
  • These incubators and new start-ups will get 100 per cent reimbursement of stamp duty and registration fees.
  • Start-ups will be provided other incentives such as interest subsidy of 9% per annum in the limit of 2 lakh rupees per year, marketing assistance of 1 lakh rupees per start-up, product development assistance of 1 lakh rupees and lease rental subsidy of 15 rupees per square feet per month.
  • For register their patents, state government will give 2 lakh rupees as assistance for domestic registration and 5 lakh rupees for international patent registration.

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Islamic Development Bank to open its first branch in India at Ahmedabad

Saudi Arabia’s Islamic Development Bank (IDB) has decided to open its first branch in India at Ahmedabad, Gujarat.

In this regard, IDB and its private sector arm, Islamic Corporation for the Development of the Private Sector (ICD), already have met with top officials of the Reserve Bank of India (RBI), EXIM Bank and India’s other nationalized banks.

This announcement comes as part of MoU signed between IDB and India’s EXIM Bank during Prime Minister Narendra Modi visit to United Arab Emirates (UAE) in April 2016.

As part of the MoU a US 100 million dollars line-of-credit (LoC) was to be given to IDB’s member countries to facilitate exports.

Besides, IDB also has decided to provide Gujarat state 30 medical vans as part of its social sector initiatives.

About Islamic Development Bank

  • The IDB is a multilateral development financing institution based in in Jeddah, Saudi Arabia. Presently, it has 56 Islamic countries as its members.
  • It was founded in 1973 by the Finance Ministers at the first Organisation of the Islamic Conference (now Organisation of Islamic Cooperation).
  • IDB’s objective is to foster the economic development and social progress of member countries as well as the Muslim community in accordance with principles of Islamic (Shariah) law.

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