The Press Council of India (PCI), which had been asked by the I&B Ministry to look into the issue of increasing FDI caps in print media, has opined that there is no need to raise the foreign investment limits.
Sources told the news agency that a sub-committee appointed by the Council to look into the issue, after seeking opinion from various members and deliberations, came to the conclusion that there is no need for ahike in FDI limits.
"The Press Council has written to the I&B Ministry about the views formulated by a sub committee appointed by it. The PCI has told the ministry that there was no pressing need that required increasing FDI limits when the Home ministry has opposed such a move," a source said.
"The PCI had examined the issue back in 2005 and come to the conclusion that there was no need to raise the limits.The sub-committee, which examined the issue, again felt that there had been no serious change in the situation which required altering the limits," the source added.