CURRENT AFFAIRS

Detailed explanation-1: -The retailers will necessarily have to set up 5 percent of the total outlets in rural areas within five years, he said while briefing reporters on the decision taken by the Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi.

Detailed explanation-2: -Normally, the area of 800 square meters to 1200 square meters is sufficient to open a petrol pump.

Detailed explanation-3: -The petrol pump must have a complaint box in the petrol pump premises. Petrol pump must display the prices of petrol and sisel in clear big signs. Petrol pump must Install fire safety devices on its premises. Petrol pump must provide a bill for your petrol purchase.

Detailed explanation-4: -To be eligible to obtain a petrol pump license and start a petrol pump, the individual must be an Indian Citizen and a resident of India, as per the Income Tax rules. To get the resident of India document, an individual must stay in India for 182 days or more in the previous Financial year.

Detailed explanation-5: -Minimum investment of Rs 15 lakh or more required to obtain dealership in rural areas. Minimum investment of Rs 2 crore or more to obtain dealership in urban areas.