Top five news stories to watch out for on July 5, 2019

| Updated on July 05, 2019 Published on July 05, 2019

Budget 2019: Finance Minister Nirmala Sitharaman will on Friday present the first Budget of the Modi government’s second term. Manufacturing industries, investors and start-ups are expecting tax sops. There is also a possibility of reintroduction of inheritance tax.

Rajya Sabha polls in Odisha and Gujarat: polls in Odisha and Gujarat will be held on Friday. The by-polls were necessitated after sitting BJP Rajya Sabha MPs from Gujarat, Amit Shah and Smriti Irani, had resigned after their election to the Lok Sabha in May from Gandhinagar and Amethi, respectively. Voting for the two seats will be held between 9 am and 4 pm and the counting will be taken up at 5 pm.

DHFL crisis: Bankers are likely to sign inter-creditor pact: Lenders to the cash strapped Dewan Housing Finance Corporation Ltd (DHFL) are expected to sign an inter-creditor agreement (ICA) for resolution of stressed assets, which will form the basis for putting together a resolution plan (RP) for the account, on July 5. Lenders are stitching together a resolution plan in a bid to protect their exposure of about ₹46,000 crore to DHFL. The banking sector’s exposure to DHFL is about ₹46,000 crore, including about ₹32,000 crore direct (loan) exposure and about ₹14,000 crore by way of investments in debt instruments issued by the company. There are about 35 banks, both public and private sector, that are part of the lenders’ consortium.

Pakistan vs Bangladesh World Cup Match: Pakistan is riding on an unlikely mathematical possibility, where the team led by Sarfaraz Ahmed will need an improbable win over Bangladesh to have a shot at making the semifinals of the World Cup when the two sides clash here on Friday. If Pakistan loses the toss and asked to field, their minute semi-final hopes will be over even before the first ball is bowled at the Lord’s. Currently placed fifth with nine points from eight matches, Pakistan faces the challenge of having to beat Bangladesh by 311 runs after posting 350 or by 316 runs after scoring 400, something which is practically impossible.

S Nalini, 52, a life convict in the former Prime Minister Rajiv Gandhi assassination case, will appear before the Madras High Court on July 5 to argue in person a case filed by her seeking ordinary leave for six months to make arrangements for the marriage of her daughter, residing in London.

Published on July 05, 2019
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