The government is likely to soon permit supermarkets to retail petrol and diesel in its bid to ease fuel access to end consumers. The Ministry of Petroleum and Natural Gas in this regard may come up with a Cabinet note to relax existing norms, the Business Standard reported, citing sources.
The government is expected to ready the note within the first 100 days of it coming to power. As it was sworn in on May 30 that means the note might be finalised in the first week of September.
It is likely to suggest bringing down the minimum requirement for companies trying to get into the retail fuel segment. This means that the government could lower the basic infrastructure investment of about Rs 2,000 crore in the domestic market, or providing bank guarantees for 3 million tonnes (30 lakh tonnes) or equivalent amount, the report said. Read More
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