Modi also asked the media to have healthy competition and urged them to take extra effort to maintain credibility.
"I assure all possible support to the Tamil Nadu government to tackle the situation due to rains," Modi said at a function to celebrate the 75th anniversary celebrations of Tamil daily Dina Thanthi.
The prime minister expressed grief over the death of those who had died in the rain over the last few days. Nine people died across the state in the recent round of heavy rain.
"Editorial freedom must be used wisely in public interest," he said.
It should ensured that the freedom to write and decide should not include the freedom to be "factually incorrect".
During his address at the Madras University Auditorium, Modi mourned the death of senior journalist and general secretary of the Madras Union of Journalists R Mohan (54) who died following a cardiac attack yesterday.
Modi was received by Governor Banwarilal Purohit and Chief Minister K Palaniswami at the Chennai airport from where he proceeded to INS Adyar by helicopter.
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