Union Minister Piyush Goyal Announces Concessions in Licensing Fees

In a significant move to boost entrepreneurship, Union Minister Piyush Goyal has announced an 80% reduction in licensing fees for women entrepreneurs and a 50% reduction for MSMEs under the Petroleum and Explosives Safety Organisation (PESO). This initiative aims to encourage greater participation from women and MSMEs in the petroleum and explosives sectors, balancing industry compliance with public safety.

Safety Measures and Regulatory Streamlining

Minister Goyal directed PESO to collaborate with CPCB and MoPNG to establish safety guidelines, facilitating petrol pump operations near inhabited areas. Efforts also include integrating Third-Party Inspection Agencies (TPIAs) into regulatory processes and developing online permission modules for enhanced efficiency and transparency.

Stakeholder Consultation and Industry Feedback

A stakeholder consultation convened by DPIIT highlighted industry concerns and recommendations for regulatory improvements. Industry associations emphasized digitalization, transparency through online portals, and expedited clearance processes. Committees were formed to explore amendments and enhance regulatory frameworks, ensuring ease of doing business while upholding industry standards.