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Rural growth tops durable firms' Budget wish-list
With the last two stimulus packages working wonders for the packaged goods industry, players in the sector are now rooting for one more round of fiscal incentives to further boost demand in the domestic rural markets and be competitive overseas. They are hopeful the new government will meet their major demands in this Budget session.

NHDC targets Rs 1,050 cr turnover
National Handloom Development Corporation (NHDC) is targetting a turnover of Rs 1,050 crore in the current fiscal. Last fiscal, NHDC had registered a turnover of over Rs 829 crore despite the economic slowdown in the national and international markets.

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Fund houses gear up to make the most of interest rate futures
A week after the National Stock Exchange (NSE) launched interest rate futures (IRF) on August 31, the domestic mutual fund industry is all set to make the most of this new instrument. The industry is planning to either come up with new schemes, or use IRF in their existing schemes.
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'Reliance not cooperating in mill takeover'

The Mukesh Ambani-led Reliance Industries (RIL) is not responding positively in connection with the contract awarded to it for revival of the closed sugar mill at Motipur in Bihar"s Muzaffapur district, according to state Industry minister Gautam Singh. - Govt hopes to save $9 bn in import bill as RIL gas flows - RIL"s KG-D6 starts production - Nifty likely to hit 3,150 this week - Nifty likely to touch 3,000-mark - Sensex snaps 3-day rally - HDFC, RIL catch funds' fancy in Feb Replying to a short-notice question of Shakeel Ahmed Khan (RJD), Singh said the state government had assigned the job of bidding for the closed state-run sugar mills to the SBI-CAP. The RIL had emerged successful and was awarded the contract for revival of the sugar mills for which it had to pay Rs 55 crore to the state government while taking up the liabilities related to employees, he said. The minister said the private sector giant had so far paid Rs 5.5 crore out of Rs 55 crore and since then it was not cooperating with the state government ""as not a single official of the company had visited us for the takeover process."" "We have issued a notice to the RIL seeking to know its stand and if it failed to respond positively we will go in for fresh tender process for the mill"", he informed. "The delay in the decision by the RIL has delayed the clearance of dues of the employees of Motipur sugar mill+, he said, adding land related problems would be resolved if the company officials showed interest in taking over the mill.


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