New Delhi:
Union Minister Piyush Goyal recently announced significant reductions in license fees, aiming to support women entrepreneurs and MSMEs.
Fee Reductions for Entrepreneurs
Goyal revealed an 80% reduction in license fees for women entrepreneurs and a 50% reduction for MSMEs,
highlighting government efforts to foster business growth.
Changes in Petrol Pump Regulations
The Modi government plans to ease regulations for petrol pump licenses, allowing operation within 30-50 meters in populated areas.
This change is set to simplify the process for acquiring petrol pump licenses, making it more accessible to the public.
Security Measures
Commerce and Industry Minister Piyush Goyal instructed PESO to prepare a detailed blueprint of security measures. PESO, operating under DPIIT, will ensure compliance with safety standards under the Explosives Act and Petroleum Act.
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Concessions for MSMEs and Women Entrepreneurs
Alongside the security measures directive, Minister Goyal also announced significant concessions. MSMEs will benefit from a 50 percent reduction in license fees, while women entrepreneurs will receive an 80 percent reduction.
These concessions aim to support small businesses and promote gender inclusivity in entrepreneurship.
Blueprint for Petrol Pump Security
Commerce and Industry Minister Piyush Goyal has instructed PESO to develop a comprehensive security blueprint for approving petrol pump operations within 30-50 meters of populated areas.
PESO, a department under DPIIT, is responsible for implementing regulatory frameworks under the Explosives Act, 1884, and the Petroleum Act, 1934.
