In its second innings, the UPA Government looks inclined to raise the FDI ceiling in the print media from 26 to 49 per cent as recommended by the Telecom Regulatory Authority of India (TRAI) in its report submitted recently. Though opposed by some leading media houses, the proposed hike finds favour with the Government, which is now looking at the interest of small and medium newspapers that are “hard-pressed” for capital.

Asked about her stance on TRAI recommendation, Information and Broadcasting Minister Ambika Soni on Friday indicated her support for the proposed hike but added that the Government would take any decision only after consulting all stakeholders.

“I personally feel that 49 per cent FDI should be allowed, except for radio that has not been cleared. A lot of medium newspapers, which are hard-pressed and need infusion of funds, are in favour of it. But the Government will take a decision only after consulting all stakeholders,” Soni told The Indian Express.

The 49 per cent FDI, as proposed by TRAI, also includes foreign institutional investors. The TRAI has also recommended a raise in the ceiling for cable networks from the existing 49 to 74 per cent and for FM radio, from the existing 20 to 49 per cent.

The UPA Government also appears to be relenting on its proposed content code for television news channels, which was opposed by broadcasters. The code was under active consideration of the UPA Government in its previous stint, especially in the wake of 26/11 Mumbai terror attacks.

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