Housing Bank Act to be amended: The National Housing Bank Act will be amended soon to ensure that all housing loans are secure, urban development minister Ram Jethmalani said on Wednesday. "The legislation is practically ready and we hope to introduce it soon, very likely during the current session," he said at a press conference in New Delhi.

Agro policy soon: The government is drafting a national agricultural policy to boost production in the farming sector and ensure better deal to the farmers. Winding up the three days' discussion regarding suicide by farmers in various parts of the country, unionminister of state for agriculture Sompal told the Lok Sabha on Wednesday that a series of steps have been taken to increase the credit flow to the agricultural sector and make it economically more viable.

India stands firm: India on Wednesday stoutly opposed attempts by some key countries to place issues relating to global nuclear disarmament in an exhaustive South Asian context. New Delhi's firm stand on the issue was conveyed by prime minister AB Vajpayee during wide-ranging discussions he had with the visiting Iranian foreign minister Syed Kamal Kharrazi in the Capital on Wednesday.

Export growth forecast: Global consultancy firm Ernst & Young has predicted a 16 per cent growth in exports in 1998-99. At the same time, it also expects imports to grow strongly. Depreciation in value of rupee against the dollar and increased investment levels will enable the country to improve export performance in the current fiscal, according to an economic outlook report prepared by the firm.

Railwayaid for Gujarat up: Gujarat has got a five-fold increase in railway allocations, railway minister Nitish Kumar said on Wednesday. He told a delegation of Gujarat MPs in the Capital that the allocation for projects in the state had been increased to Rs 80 crore from a mere Rs 17.16 crore in 1997-98. He said that the state was being given special treatment by his ministry to help rapid industrialisation of the state.

Special import duty on steel flayed: Mini steel plants have criticised the 8 per cent special import duty, that makes imported raw materials considerably dearer. The additional customs duty was intended as a protection for domestic industry, but in effect takes away the competitive edge of companies that depend on imported raw materials.

CIA flayed: In a classified report on United States intelligence agencies' inability to foresee India's May-11 nuclear test has revealed that the Central Intelligence Agency had no spies worthy of the name in India, says The New YorkTimes. The debacle revealed chronic failures of imagination and personnel, flaws in information-gathering and analysis, and faulty leadership and training, said the report.

United Nations defers Japan move: The United Nations Security Council has postponed consideration of a Japanese-sponsored resolution condemning nuclear tests by India and Pakistan till the conclusion of the meeting of foreign ministers of its five permanent members in Geneva on Thursday. The Big Five, who also constitute the Nuclear Club, will discuss how to handle the accelerating tension between the two countries. US secretary of state Madeleine Albright will advocate a strong pressure on New Delhi andIslamabad.