New Delhi: The I&B ministry has asked Telecom Regulatory Authority of India(TRAI) and Press Council of India (PCI) to expedite their comments on foreign investment limits in broadcasting and print media sectors respectively.
The I&B ministry had earlier sought comments from TRAI on a paper prepared by the Finance ministry in which it had suggested raising the FDI limits in the broadcasting sector. In a statement released here, the ministry said it has asked TRAI to expedite its comments and in a similar communication, it has requested PCI to expedite its advice on the existing sectoral caps of FDI in Print Media.
Earlier, the ministry had forwarded the proposal for revising the FDI limits to TRAI and PCI and told the DIPP that existing FDI caps and entry routes may continue and status quo be maintained as the recommendations from both bodies would take time.
Following the ministry's reference, TRAI had floated a consultation paper on the subject and invited views from stakeholders on the issue.
The I&B ministry had also undertaken consultations with stakeholders in the print and broadcasting sectors.
The Finance ministry is learnt to have suggested raising the foreign investment limit from 26 percent to 49 percent in print media, FM Radio, uplinking news and current affairs channels and to 100 percent in broadcasting carriage services, printing of specialised magazines and facsimile editions of foreign newspapers.