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Parliamentary panel rejects FDI in print media
In a significant development, a Parliamentary standing committee on Tuesday rejected foreign direct investment (FDI) in the print media with most parties opposing even 26 per cent equity in the sector.
In a significant development, a Parliamentary standing committee on Tuesday rejected foreign direct investment (FDI) in the print media with most parties opposing even 26 per cent equity in the sector.
The Standing Committee on Information Technology headed by CPI-M leader Somnath Chatterjee decided in New Delhi to adopt its first draft rejecting FDI, at its two-hour long final meeting.
Only 10 of the 26 members present at Tuesday's meeting were in favour of FDI, while the others opposed it, sources said.
Apart from the BJP and the DMK, most political parties including Congress, Left and TDP opposed FDI in print media.
While one member did not participate in the informal voting, some of those who did not attend Tuesday's meeting had sent their views in writing, sources said. Only 27 out of 45 members attended the meeting. However, the meeting witnessed heated exchanges with BJP member Narendra Mohan insisting that he be allowed to read out his note favouring limited equity in the sector.
"The draft was adopted without being read at the meeting," Mohan said as he came out.
The first draft articulating the view of last year's Standing Committee opposed any kind of foreign participation in the print media.
At the last meeting, eight of the 15 members, including one from Congress, favoured the 26 per cent equity proposal. A second draft, recommending 26 per cent equity with adequate safeguards in the sector and stipulating that editorial control would be Indian, was prepared in the past month and circulated to the Committee members.
But, at Tuesday's meeting this draft was rejected with members favouring status quo in the policy governed by the 1955 Cabinet resolution barring foreign equity in the news sector.
With this the ball would now be in the court of the Information and Broadcasting Ministry, which had put all decisions relating to FDI in print media on hold till the report of the Standing Committee. The stand of the committee assumes significance with the Prime Minister and the Information and Broadcasting Minister having said that any decision on FDI and related issues would be taken after the report, reflecting views of various political parties.
A proposal to allow non-news technical and medical journals was also held back late last year by the Cabinet, which was of the view that the Committee's report should be awaited before taking any steps in this regard.
The Home Ministry had observed that the present internal security scenario is not conducive for a relaxation in the existing print media policy. Bureau Report
Only 10 of the 26 members present at Tuesday's meeting were in favour of FDI, while the others opposed it, sources said.
Apart from the BJP and the DMK, most political parties including Congress, Left and TDP opposed FDI in print media.
While one member did not participate in the informal voting, some of those who did not attend Tuesday's meeting had sent their views in writing, sources said. Only 27 out of 45 members attended the meeting. However, the meeting witnessed heated exchanges with BJP member Narendra Mohan insisting that he be allowed to read out his note favouring limited equity in the sector.
"The draft was adopted without being read at the meeting," Mohan said as he came out.
The first draft articulating the view of last year's Standing Committee opposed any kind of foreign participation in the print media.
At the last meeting, eight of the 15 members, including one from Congress, favoured the 26 per cent equity proposal. A second draft, recommending 26 per cent equity with adequate safeguards in the sector and stipulating that editorial control would be Indian, was prepared in the past month and circulated to the Committee members.
But, at Tuesday's meeting this draft was rejected with members favouring status quo in the policy governed by the 1955 Cabinet resolution barring foreign equity in the news sector.
With this the ball would now be in the court of the Information and Broadcasting Ministry, which had put all decisions relating to FDI in print media on hold till the report of the Standing Committee. The stand of the committee assumes significance with the Prime Minister and the Information and Broadcasting Minister having said that any decision on FDI and related issues would be taken after the report, reflecting views of various political parties.
A proposal to allow non-news technical and medical journals was also held back late last year by the Cabinet, which was of the view that the Committee's report should be awaited before taking any steps in this regard.
The Home Ministry had observed that the present internal security scenario is not conducive for a relaxation in the existing print media policy. Bureau Report