New Delhi: The Central Statistical Organisation (CSO) has decided to come out with the first quick estimates of the annual survey of industries for 1997-98 by December this year. This will be the first time the industry survey results will be available to public in a such a short period. An average time-lag for preparing and final presentation of the data has ranged between three-four years till now. The move comes in the wake of the demand by the World Bank and International Monetary Fund for a early and precise collation of data from various sectors in order to correctly assess and analyse the performance of the economy.

CMC rights issue

NEW DELHI: State-owned computer major CMC Ltd has approached government to a float rights issue to mop up Rs 100 crore to part-finance its future expansion programmes.

The company has proposed the matter to the government which has an equity holding of 84 per cent, chairman and managing director S S Ghosh said. The pricing ofthe issue would be decided by the government.CMC has also written to its parent body, department of electronics to bring down the government equity to below 50 per cent.

Ficci on frauds

NEW DELHI: Federation of Indian Chambers of Commerce and Industry (Ficci) today admitted that low returns from corporates that had tapped primary market and fraudulent companies were responsible for the present depression in the stock markets. In tune with the Prime Minister's resolve to punish the fly-by-night corporates, Ficci said it would not defend firms which "deliberately cheated" small investors.