House panel defers decision on FDI in print media

New Delhi, Nov 19: The issue of foreign direct investment (FDI) in print media on Monday took a new turn before the parliamentary committee looking into the matter with a BJP member coming out with a note sharply contradicting the draft report which outrightly opposed foreign equity in the sector.

On a day when the parliamentary standing committee on information technology was likely to finalise its report, Mr Narendra Mohan, a newspaper baron, submitted a 38-page note for perusal of members before the committee takes a final view on the matter.

Committee sources said Mr Mohan’s note, apparently supporting foreign equity proposal, came as a surprise and has obviously delayed a decision.

Sources also said the committee had received a letter from the home ministry apparently giving its views in the matter and suggesting that if at all FDI in print media was allowed, it would be dealt on a case by case basis by the government.

— PTI