<h1>Government Approves Rs. 7 Crore FDI Proposal for Hubert Burda Media; Bay Capital's Proposal Deferred.</h1> The government has approved one foreign direct investment proposal worth approximately Rs. 7 crore. The approved proposal involves M/s Hubert Burda Media India Pvt. Ltd, a wholly-owned subsidiary of a foreign company, which will operate as an investing company and make downstream investments in an Indian company focused on printing and publishing specialty magazines. Another proposal from M/s Bay Capital Investment Ltd, Mauritius, involving the acquisition of shares in a listed Indian company within a leading infrastructure group, has been deferred.