- News>
- Economy
I&B Ministry to put up FDI in print proposal after session
The Information and Broadcasting Ministry is likely to place a fresh proposal on the controversial FDI in print media issue before the Union Cabinet after the current Budget Session of Parliament.
The Information and Broadcasting Ministry is likely to place a fresh proposal on the controversial FDI in print media issue before the Union Cabinet after the current Budget Session of Parliament.
The proposal to allow 74 per cent FDI in non-news, non-current affairs and specialised publications was deferred by the Cabinet Thursday night as some ministers, mainly belonging to BJP, felt that once it was delinked from the news sector, Government may not immediately look at policy changes in the news sector, sources said. Fearing an uproar in Parliament over a decision on the issue of FDI in print media, the Cabinet was of the view that it be discussed later in its entirety with a fresh look at the 1955 Cabinet Resolution that bans publication of foreign-owned newspapers or periodicals in India or their Indian editions. The Information and Broadcasting Ministry is now likely to work out its new proposal based on recommendations by some MPs to allow 26 per cent FDI in the print media and suggestions by some leading newspaper editors to permit FII or NRI investment in the sector. Bureau Report
The proposal to allow 74 per cent FDI in non-news, non-current affairs and specialised publications was deferred by the Cabinet Thursday night as some ministers, mainly belonging to BJP, felt that once it was delinked from the news sector, Government may not immediately look at policy changes in the news sector, sources said. Fearing an uproar in Parliament over a decision on the issue of FDI in print media, the Cabinet was of the view that it be discussed later in its entirety with a fresh look at the 1955 Cabinet Resolution that bans publication of foreign-owned newspapers or periodicals in India or their Indian editions. The Information and Broadcasting Ministry is now likely to work out its new proposal based on recommendations by some MPs to allow 26 per cent FDI in the print media and suggestions by some leading newspaper editors to permit FII or NRI investment in the sector. Bureau Report