Multitasking creates a sense of inferiority in the person when one is handling too many issues at the same time and cant be able to do the justice with the single one then it creates confusion

Yes, there could be positive and negative effects. On the positive effect is the reinforcement of the information seeking for and vice versa, confusion could emanate from the usage of various media at the same time.

This can be especially negative for young people because they never learn to focus fully on one thing at a time. They are constantly distracted, picking and choosing which information to listen to/give attention to. They may miss out on understanding something fully because they are only half listening/ paying attention.

Multitasking is very hard for anyone, especially for young people. Studies out of the Stanford University Psychology Department show that people who multitask frequently are actually worse at multitasking (attending to multiple streams of information at the same time) than people who do not do so frequently. As Olumuyiwa says, the problem is attending to several streams of information at one time, which is not possible. People switch back and forth between the streams of information and this is very cognitively taxing.

Larry Rosen is one of the top researchers on this question. Read his book iDisorder for a good overview of research on technology, distraction, and learning:

http://blogs.lse.ac.uk/lsereviewofbooks/2013/09/23/book-review-idisorder-understanding-obsession-technology/

Distrust on the sources of information can be one of the negative effects because different sources present the information differently. People have started relying on Media sources only so they are getting away from the original knowledge like books, libraries, scholars etc

Multitasking creates a sense of inferiority in the person when one is handling too many issues at the same time and cant be able to do the justice with the single one then it creates confusion

Agree with Anam, focused ,articulate and composed behavior do not develop in multitasking, In case of random and abundant flow of information confusion creates that may lead to dismay