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Kanchi seer flays govt for allowing FDI in print.
Byline: S Balakrishnan
: The Shankaracharya of the Kanchi Kamakoti Peetham Sri Jayendra Saraswati has criticised the Union government's decision to permit 26 per cent foreign direct investment (FDI) in the print media.
Talking to this correspondent here on Friday, he said that ''there was no compulsion for the government to take this decision.''
''I can understand if the economy is opened up because of the compulsions of the General Agreement on Trade and Tariffs (GATT). But the print media has nothing to do with GATT. The government has unnecessarily opened a Pandora's box by its decision,'' he stated.
''It is unfortunate that the present government in New Delhi, which had professed its commitment to Indian values, is permitting foreign capital in the Indian newspaper industry,'' he said.
''I took up the matter with Prime Minister Atal Behari Vajpayee and he said that he was bound by the compulsions of coalition politics. In fact, whenever I take up an issue with him, he says there is not much he can do since he is heading a large coalition government,'' he said.
The Acharya said: ''The entry of foreign interests pose a danger to India's culture and moral values.''
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