The central government makes a big announcement. Big things were announced in the first full budget of Modi Government 3.0. The budget covered a range of topics, from income tax to various sectors. Finance Minister Nirmala Sitharaman highlighted the growth of India Post and India Post Payment Bank during her speech. She mentioned that India Post, with its 1.5 lakh rural post offices, and India Post Payment Bank, supported by a network of 2.4 lakh postal workers, will be revitalized to boost the rural economy.
Sitharaman explained that the enhanced services of India Post will feature rural community hubs, institutional account services, direct benefit transfers, cash withdrawals, EMI pickups, credit options for micro enterprises, insurance, and other digital services. She also noted that India Post Payment Bank’s services will see further expansion in rural regions.
The government plans to transform India Post into a major logistics company. According to the Finance Minister, this initiative is part of a broader strategy to modernize postal services and adapt them for the digital era. It aims to cater to the needs of Vishwakarmas, new entrepreneurs, women, self-help groups, MSMEs, and larger businesses.
The idea to turn India Post into a logistics firm was initially proposed by Telecom Minister Jyotiraditya Scindia back in September 2024. He mentioned that the government aims to boost India Post’s revenue from 50% to 60% over the next 3-4 years.