Try to use
SimpleDateFormat sdf = new SimpleDateFormat("EEE MMM dd hh:mm:ss z yyyy");
But before conversion replace "." on ":" in "GMT+05.30"
Example:
String newdate="Tue Mar 04 16:58:00 GMT+05:30 2014";
SimpleDateFormat sdf = new SimpleDateFormat("EEE MMM dd hh:mm:ss z yyyy");
try {
Date d = sdf.parse(newdate);
} catch (ParseException e) {
e.printStackTrace();
}