The government has called upon the Press Council of India (PCI) and the telecom regulatory authority of India (Trai) to give its views on the Mayaram panel recommendations of increasing the foreign direct investment (FDI) cap to 49% for newspapers, news magazines, news channels and FM radio from the current cap of 26% (print and broadcast) and 20% for FM radio.
Information and broadcasting minister Manish Tewari said that comments of PCI have been sought for matters concerning with the print media and from Trai on the matters related to the broadcasting sector after the stakeholders failed to reach any consensus last month.
While the print and broadcast sector regulator firms up its views on the Mayaram panel recommendations, the I&B ministry has written to the department of industrial policy and promotion (DIPP) stating that the existing limits of FDI caps and entry routes in the print and broadcasting sectors "may continue" and "status quo" in the interim be maintained as prescribed in the consolidated FDI Policy 2013.
In a statement, the I&B ministry said that the Indian Newspaper Society (INS) have sought additional time to give their comments, the News Broadcasters Association (NBA) has not furnished their comments till date. "In view of the given position, the ministry has felt that the matter be referred to Trai and PCI for seeking their comments," it said.