How can I start a petrol pump and what are the requirements
A new dealer selection process has been formulated in order to promote the transparency in awarding of petrol pump license and franchise by petroleum companies in India. Below are the requirements for setting up a petrol pump: 1) Basic Eligibility Criteria: 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. The applicant must also be not less than 21 years old and not more than 55 years. 2) Education Requirement: Rural petrol pump applicants, who are SC/ST or OBC, must have passed minimum 10th standard and all other applicants must have passed a minimum 10 2 level of examination. In case of application under open category, the applicant must have passed minimum 10 2 level of examination for rural petrol pumps. 3) Investment Requirement: To start a petrol pump, the applicant must show the ability to invest a minimum of Rs.25 lakhs in case of regular petrol pumps and Rs.12 lakhs in case of rural petrol pumps. The funds for investment can be in the following forms: a) Funds in savings accounts, deposits with Bank/Registered Companies/Postal Schemes b) National Savings Certificates, etc. c) Bonds d) Shares of listed Companies in Demat Form e) Mutual Funds f) It’s important to note that cash, jewelry for which ownership cannot be established will not be considered. Also, balance in current account will not be considered. 4) Land Requirement: Land is a major criterion in the selection of petrol pump dealers. The applicants are first classified into two groups as follows: a) Applicants having suitable piece of land in the advertised location/area either by way of ownership / long term lease. b) Applicants having Firm Offer for a suitable piece of land for purchase or long term lease. If you are fit the eligibility criteria, you can apply online on the websites of the petroleum companies in India. Nayara Energy provides transparent, seamless and quick enrolment & commissioning process. Visit their website for more information or call them on 1800-1200-330.
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