PM-Advani Meet On Rly Zone Issue Put Off
The meeting of Prime Minister Atal Bihari Vajpayee and Deputy Prime Minister LK Advani, which was to decide on the issue of creation of new railway zones, was put off on Thursday.

Rail Bhawan sources said the meeting could not take place due to non-availability of National Democratic Alliance convenor and defence minister George Fernandes, who was to attend the meeting and act as a mediator between railway minister Nitish Kumar and Trinamool Congress leader Mamata Banerjee.
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Special committee to compute FDI flow
The government has set up a committee, comprising members of the Reserve Bank of India and the department of industrial policy & promotion, for adoption of international reporting and computation system for foreign direct investment.

Chairing the parliamentary consultative committee here on Thursday, commerce & industry minister Murasoli Maran said the committee would complete its work shortly. This has been necessitated by the fact that FDI figures of India currently do not include reinvested earnings and other direct capital flows which form part of FDI as per the practice of the International Monetary Fund, he added.
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Govt to sell minor stakes in IOC, ONGC and Gail
Disinvestment Minister Arun Shourie is for selling minor stakes of blue-chip PSUs like IOC, ONGC and Gail.

Thursdays Cabinet Committee On Disinvestment meeting saw Shourie present a plan involving not just the strategic sale of public oil majors HPCL and BPCL as well as other PSU Ratnas, but also a limited stake sale of ONGC, IOC and Gail which have been ruled off the disinvestment agenda on the ground that they are strategic.
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DCA Secretary seeks changes in Companies Act
In the changed economic scenario, good corporate governance has become the most important issue to gain national and international credibility for Indian companies and to facilitate this, the Company Law of 1956, a product of the old economy, needs drastic changes, according to Mr Vinod K. Dhall, Secretary of the Department of Company Affairs.

Mr Dhall, who took part in an interaction session with members of the Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI), said that some changes in the Act had been effected in tune with the times but the agenda was still unfinished.
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Crude production records 9.1% growth in May
According to CMIE data, for the third consecutive month, Indias crude oil production recorded a healthy growth of 9.1 per cent in May 02 as against a 5.7 per cent decline witnessed in the same period last year.

Cumulative production during April-May 2002 at 54.4 lakh tonne was six per cent higher than the 51.4 lakh tonne produced in the same period of 2001, Centre for Monitoring Indian Economy (CMIE) said in its monthly review here on Thursday.
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