Centre considering 100% FDI in news media, says Javadekar

Currently, FDI is allowed only up to 26 percent in news and current affairs media, while 100 percent FDI is allowed in non-news media

hidden June 01, 2014 20:07:33 IST
Centre considering 100% FDI in news media, says Javadekar

Mumbai: Union Information and Broadcasting Minister Prakash Javadekar today said his ministry is seeking inputs from various stakeholders on whether to allow 100 percent FDI in news media.

"The Centre is currently busy collecting views of various stakeholders in connection with the issue of allowing 100 percent FDI in news media," Javadekar told reporters here.

Centre considering 100 FDI in news media says Javadekar

Prakash Javadekar. AFP.

"We want to take the views of all the stakeholders before we take a final decision if we should give a go-ahead for the 100 percent FDI in news media. We are not in a hurry to go for the same," he added.

Currently, FDI is allowed only up to 26 percent in news and current affairs media, while 100 percent FDI is allowed in non-news media like a trade publication and general entertainment channel (GEC).

On the issue of paid news, Javadekar said a meeting of council of ministers will be held shortly to discuss the matter.

The issue of paid news is of two kinds, Javadekar said adding, "While the first one is related to the elections, the other one was directly connected to the privately-owned business newspapers."

"The issue is if the corporate houses have their stakes in business newspapers and in case they publish news relating to their own ventures in those newspapers then should they declare them as private treaties?" he asked.

The final meeting of the committee that was set up to look into the issue of paid news will be held tomorrow. "I am a member of the committee which will be meeting for the last time tomorrow," he said.

Prime Minister Narendra Modi has asked the ministers to frame their priority lists for the first 100 days. "We are currently busy preparing reports in this connection," Javadekar added.

Javadekar, who also holds the environment portfolio, said, "India's role in climate change will be put strongly and we will include NGOs in this task."

PTI

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