Panaji, Apr 6 (IANS): Yoga guru and business magnate Baba Ramdev on Thursday said the government itself is caught in a controversy related to fake news and had only managed to extricate itself out of it with great difficulty.

"In my life, I have twice or four times heard someone say that I have brought good news for you. Ninety nine per cent I hear only bad news and fake news. The government itself is caught in the fake news controversy. It managed to extricate itself out of it with difficulty," Ramdev said at an advertising-related event at a North Goa resort.

Union Minister for Information and Broadcasting Smriti Irani courted controversy earlier this week after she proposed new guidelines for reining in fake news.

The guidelines were opposed by the media fraternity and civil society and were withdrawn after the intervention of Prime Minister Narendra Modi.

Ramdev also said that he pledged to run multi-national corporations to ground, but through clean and healthy competition and not resorting to unfair means.

"This is a pledge. We will not do wrong to anybody, but we will not tolerate anyone wronging us. We will be a healthy competition," Ramdev said.