Hi Parihar,
Thanks for your suggestion.
In our case, we display all news items on home page irrespective of user's department. Also, we have one more location where the news items are shown based on their department.
So, if we implement your solution then we need to run a scheduler / taxonomies to update the duplicate folder at certain intervals. In that case, the two folders will not be insync and there will be a delay.
Any more suggestions.