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MUMBAI (AFP) — Pop icon Madonna walked through narrow lanes in a slum and visited a flea market in India's financial capital during a holiday with her family.

Madonna, her film director husband Guy Ritchie and their three children arrived in Mumbai Tuesday morning by chartered plane from the historic city of Udaipur in western India, where they spent New Year's Eve.

Capitalism was the only way to industrialise West Bengal although socialism could have been a better alternative, Chief Minister Buddhadeb Bhattacherjee said on Thursday.

A day after the alleged molestation of two NRI girls came to light, the city police today announced a cash reward for providing information about the suspects and also said that they were close to nabbing one of them.

A major initiative to provide satellite- based tele-education facilities to engineering colleges in the country was launched today by Indian Space Research Organisation (ISRO) in association with Indian Institute of Technology (IIT), Bombay.

EDUSAT network provides satellite-based tele-education facilities to students and teachers of the Engineering Colleges across the country.

Next month's Union Budget will focus on maintaining high growth and give "relief" to sectors under "stress" such as those affected by the rupee appreciation, according to Union Finance Minister, P Chidambaram.

New Year celebrations are continuing in the stock markets with benchmark Sensex scaling a new high of 20,465.30 points at closing level on the Bombay Stock Exchange, led by blue-chip stocks HDFC, Tata Motors and Reliance Energy The 30-share BSE barometer added 164.59 points over its previous close of 20,300.71 points to set the new closing level record.

The Government is considering an increase of Rs 4 and 2 a litre in petrol and diesel prices respectively to moderate the impact of high international crude oil prices on state-run oil firms.

In the wake of soaring cement prices, the Tamil Nadu government threatened to take over private cement factories in the state, saying it had no other alternative but to go in for this step if the units did not come forward to reduce the price in public interest.