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Journalism of Courage
Categorically asserting there will be no rollback on foreign direct investment (FDI) in print, Information and Broadcasting Minister Jaipal Reddy said, the government had no intentions of de-stabilising the investment framework in a wanton fashion.
‘‘There have been adequate safeguards. As of now, the present regime will continue,’’ Reddy said at the Economic Editor’s meet on Thursday even as he confessed to not being a votary for FDI in print media. ‘‘But I have learnt to live in the regime I had inherited,’’ Reddy clarified. On the subject of allowing FIIs in print, Reddy said he had not taken a view on the matter.
The I&B ministry is also on the lookout for a merchant banker to assess the potential of FM radio in its second phase in the country.
Remarking that FM has not bloomed in India in the manner it has in the US or other European countries, despite the revenue potential, Reddy assured the ministry would do everything to give FM the impetus it needed, when here is scope for 400 radio stations in the country.
While the minister did not commit himself on a change in the FM radio policy from a licence fee regime to a revenue-sharing model, the ministry is examining recommendations made by Trai on the matter.
Reddy also said the government expected a big boom in the FM radio sector and would be finalising the package for the second phase of its expansion within the next two weeks. ‘‘We are at a fairly advanced stage and would be unveiling our package in the next two weeks,’’ Reddy said, adding that the entry point will be through transparent bidding process.
