Union Minister Piyush Goyal Announces 80% Licensing Fee Concession For Women Entrepreneurs
Union Minister Piyush Goyal has unveiled significant fee concessions and safety measures for the petroleum and explosives sector during a Stakeholder Consultation in New Delhi. The event, organized by the Department for Promotion of Industry and Internal Trade (DPIIT), aimed to enhance efficiency within the Petroleum and Explosives Safety Organisation (PESO) and improve dialogue with industry stakeholders.
Goyal announced an 80% concession in licensing fees for women entrepreneurs and a 50% fee reduction for MSMEs. These incentives are expected to boost involvement from these crucial segments of the economy.
Addressing safety concerns, the Minister directed PESO to collaborate with the Central Pollution Control Board (CPCB) and the Ministry of Petroleum and Natural Gas (MoPNG) to establish new safety guidelines for petrol pumps operating within 30-50 meters of residential areas. This initiative aims to balance public safety with industry operations.
The consultation, attended by over 150 stakeholders from various industrial sectors, provided a platform for industry associations to highlight areas needing regulatory improvement. Recommendations focused on digitalization, increased transparency through the PESO online portal, and expedited clearance issuance.
Responding to industry feedback, committees comprising MoPNG, industry associations, and regulatory bodies were formed to explore and recommend amendments to enhance regulatory frameworks. The Ministry reaffirmed its commitment to reducing compliance burdens and promoting ease of doing business while maintaining industry standards.
Minister Goyal emphasized the importance of adopting global best practices to streamline regulatory processes. Initiatives include integrating Third-Party Inspection Agencies (TPIAs) into more regulatory processes and developing online permission modules to replace offline procedures, enhancing efficiency and transparency.
The stakeholder consultation marked a pivotal step towards fostering a conducive regulatory environment for the petroleum and explosives sectors.
DPIIT’s ongoing engagement with stakeholders underscores its dedication to incorporating industry insights, driving regulatory reforms, and ensuring safety across hazardous substance industries.
