The TRAI has recommended that the FDI limited for News & Current Affairs TV Channels be increased to 49%, something which should make Rupert Murdoch a little happy, even if it has taken 5 years, and even if this recommendation doesn't cover print media (which is what he wanted). At present, the FDI limit for News channels is 26%, while that for non-News channels is 100%, although both require approval of the Foreign Investment Promotion Board (FIPB). Note that these are recommendations, and the Ministry of Information and broadcasting is under no obligation to accept them. On News & Current Affairs Channels Stakeholders had argued for increasing this limit, saying that the present cap of 26% for uplinking of News and current affairs channels "acts as a disincentive to prospective investors from infusing funds as they do not find it economically and financially beneficial" and this is why "hardly any news broadcasting company has been able to fully utilize its existing FDI limit." Even more interesting: "shortage of funds, as per them (stakeholders), is adversely affecting their abilities to, gather and honestly report quality news material, grow and develop quality journalistic best practices, attract quality talent etc. and all these factors are leading to evils like paid news and private treaties etc." Not unexpectedly, the request was for allowing 49% FDI in all media, "FDI limit should be enhanced to 49% across the board i.e. it should be applicable for TV, print, Internet etc.", oddly enough, forgetting that Internet, as…
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