Budget 2025: Many big announcements were made in the first full budget of Modi Government 3.0. Many announcements were made in the budget from income tax to other sectors. Finance Minister Nirmala Sitharaman talked about the expansion of India Post and India Post Payment Bank in her budget speech.
Sitharaman announced that India Post with 1.5 lakh rural post offices and India Post Payment Bank with a vast network of 2.4 lakh postal workers will be re-established to work as a catalyst for the rural economy.
The Finance Minister said that the expanded services of India Post will include co-location of rural community hubs, institutional account services, DBT, cash withdrawal and EMI pick-up, credit services to micro enterprises, insurance and ancillary digital services. The Finance Minister also said that the services of India Post Payment Bank will be further expanded in rural areas.
The government will turn India Post into a large logistics firm
. The Finance Minister said that India Post will be converted into a logistics firm. This move is part of the government’s major reform plans to modernize postal services and prepare it for the digital age. It will meet the growing needs of Vishwakarmas, new entrepreneurs, women, self-help groups, MSMEs and large business organizations.
Let us tell you that the plan to convert India Post into a logistics company was first put forward by Telecom Minister Jyotiraditya Scindia in September 2024. He had said that the government is working towards increasing the revenue of India Post from 50 per cent to 60 per cent in the next 3-4 years.
