The Ministry wants PCI to give its views on raising FDI cap of 26 per cent through FIPB route to 49 per cent through automatic route in the news sector. It has also sought comments on revision of existing FDI caps in broadcastingÂ
BestMediaInfo Bureau | Delhi | August 22, 2013
The Ministry of Information & Broadcasting has requested TRAI once again to expedite its comments on the reference made earlier regarding foreign investment limits in the broadcasting sector. In its communication to TRAI, the I&B Ministry has sought comments regarding the paper prepared by the Ministry of Finance relating to revision in existing FDI caps in the broadcasting sector.
The paper had been forwarded to TRAI seeking its recommendations under Section 11(1)(a)(ii) & (iv) of the TRAI Act, 1997, which pertains to the terms and conditions of license to a service provider and measures to facilitate competition and promote efficiency in the operation of telecommunication services to facilitate growth in such services.In a similar separate communication, MIB has requested Press Council of India to expedite its advice on the existing sectoral caps of FDI in print media, under Section 13 of PCI Act, 1978. The advice has been sought in view of the communication received from the Ministry of Finance which aims to review policy of sectoral caps of FDI in print media. Section 13 authorises PCI to express its opinion in regard to any matter referred to it by the Central Government. The paper proposes to raise the existing FDI cap of 26 per cent which is through the FIPB route to 49 per cent through automatic route in the news sector. In the non-news sector, the existing FDI cap is 100 per cent through FIPB route which has been proposed to be 100 per cent through automatic route without the requirement of FIPBâ€™s approval.