| NEW
DELHI: The Union Cabinet will soon take a final view on the recommendation of
the Committee of Secretaries for permitting 26 per cent foreign direct investment
(FDI) in FM radio. Sources
say the Cabinet is likely to give its consent to a hike in FDI limit on FM radio
from 20 per cent to 26 per cent.
The
Committee of Secretaries (CoS), headed by the Cabinet Secretary,
agreed to the increase earlier this month.
The
Telecom Regulatory Authority of India had in late June recommended foreign investment
limits for FM radio to be 26 per cent. Interestingly, it had in January recommended
FDI of 49 per cent in the consultation paper, but reduced it to 26 per cent in
the final report. It
is also learnt that to prevent any chances of corruption, FM radio frequencies
may be sold via an e-auction, according to the CoS recommendation. | 
