| Though Reddy made it clear that the proposed GoM is
unlikely to have a say in foreign investment norms for the television
sector, he did not rule out over turning of the previous government’s
decision allowing up to 26 per cent foreign investment in the news
category of the print medium and up to 74 per cent in the technical
journal category.
"How can I predict what view the GoM would take? One of the
options could be to make the present guidelines (on foreign investment
in print medium) more stringent," he cautiously said.
The changes in the foreign investment norms in the print medium
was brought about in 2002, after hectic lobbying by a section of
media companies, by the Bharatiya Janata Party-led National Democratic
Alliance government. That there were some differences within the
Union Cabinet on the issue of amendment in the PRB Act and the IHT
case could be seen from the fact the compromise formula was the
suggestion on formation of a GoM, rather than okay an I&B ministry
proposal, envisaging a slew of changes.
The GoM, which does not have any time frame for its recommendations
at the moment, would look at the print medium sector, violations
of guidelines occurring therein and what could be done keeping in
mind the changing national and global scenario.
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