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Government formation after NCP LP leader election: Chavan
As the Congress endorsed him for another term as Maharashtra Chief Minister, Ashok Chavan said, he did not expect any problem in the government formation exercise, which would begin after ally NCP elected the leader of its legislature party.

Interest rates unlikely to rise in FY10: Bankers
When Reserve Bank of India Governor D Subbarao meets top bankers in the customary pre-policy meeting on October 12, he can draw comfort from the fact that a majority of the bankers think interest rates may not be hiked till the end of the financial year.

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ONGC-Hinduja JV loses rights to dev Iran's oilfield to China
In a major setback to India"s oil diplomacy, the ONGC-Hinduja Group alliance has lost the rights to develop Iran"s South Azadegan oilfield to CNPC of China.
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Researchers lend hope to Kanpur plastic industry

The government may not be able to rescue the inflation-hit plastic industry, but researchers at Pantnagar University have lent a ray of hope to it. The environment ministry had recently asked the plastic manufacturers to express their views as to why should the production of plastic packets smaller than the size of 18’ by 12’ not be banned? The notice has raised uproar in the plastic industry as according to manufacturers, 90 per cent of plastic consumption is done in sizes smaller than the proposed ban. - Food prices may start softening from January: Montek - Govt rules out additional borrowing plan - RBI can hike interest rates: Rangarajan - Nature"s curse affects farm sector - Spring in winter - Dehoarding, selective import may help reduce inflation: Kaushik Basu According to All India Plastic Manufacturers’ Association vice president (North zone), R K Aggrawal, the proposed curb on use of plastic pouches smaller than the aforesaid size would effectively mean closing down of thousands of Small Scale Industry (SSI) units across the country. “Most of the SSI units operate on small margins and would hardly be able to afford the renovation for complying with the new norms,” he added. The bio-technology department of Pantnagar University has found a solution to each of their problems. The department has discovered a technology to biologically decompose the otherwise non-biodegradable plastics. According to department professors and researchers Rita Goel and M G H Zaidi, the department had successfully tested the process of decomposing the plastics within one week by using a culture of over 78 various microbes. “The development once accredited by the concerned committees, is expected to go a long way in enhancing the environmental acceptability of plastics in years to come. We are in process of obtaining the patent for the newly discovered technique,” added Zaidi.


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