Group of Ministers to review print media policy

By Our Economy Bureau | 30 Sep 2004

New Delhi: The cabinet has decided to set up a group of ministers (GoM) to undertake a review of the print media policy. Speaking to newspersons, the information and broadcasting (I&B) minister, Jaipal Reddy, said that the cabinet has been apprised of the FDI policy for the print media, which was spelt out in 2002.

Under this 26 per cent FDI was allowed in news and current affairs publications and 74 per cent in technical and speciality magazines. The syndication norms were revised whereby foreign news content cannot exceed 7.5 per cent of the total content of the publication.

"The cabinet felt that the decisions taken in 2002 and the emerging scenario must be reviewed in a comprehensive manner and therefore a GoM is being constituted," he added.

The government has also decided to defer any changes in the Press and Registration of Books (PRB) Act, 1867 till the GoM completes its review.

Reddy said that the I&B ministry placed before the cabinet certain amendments to the Act as well as the 1955 cabinet resolution barring foreign investment in print media.