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Cabinet to consider I&B proposal on FDI in print media today

25-June-2002
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Cabinet to consider I&B proposal on FDI in print media today

Union Cabinet, despite widespread opposition to the entry of foreign direct investment (FDI) in the print media, will today consider Information and Broadcasting Ministry proposal to change the current policy on the issue.

This is surprising because some key NDA allies, the Parliamentary Standing Committee on Information Technology, the Indian Newspaper Society, most major English language and vernacular publications and journalist’s unions are against the entry of FDI in the print media.

The committee had, in February, rejected the proposal to allow FDI in print media by a 16-10 vote. The Congress, TDP, CPI-M, SP and the RJD had been among those that rejected the idea.

Earlier proposal send by I&B Ministry some time ago, advocating FDI in technical journals, the Cabinet had rejected it saying the matter needed to be dealt with in its entirety and not piecemeal.

The Delhi Union of Journalists also expressed grave concern on Monday over reports of the government succumbing to pressures from vested interests, saying that this move is not in the interest of the nation.

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