Budget 2025—India Post to be revamped into public logistics organization
What's the story
Finance Minister Nirmala Sitharaman has announced a major transformation of India Post into a large public logistics organization, improving rural post offices with India Post Payment Bank.
The strategic shift will cater to the growing needs of various sectors including new entrepreneurs, women, self-help groups, MSMEs, and larger business organizations.
The FM made the announcement during her Union Budget speech today.
Rural revamp
India Post Payment Bank to strengthen network
Sitharaman further revealed that India's 1.5 lakh rural post offices network will be strengthened by the India Post Payment Bank.
"India Post with 1.5 lakh rural post offices complemented by the India Post Payment Bank and a vast network of 2.4 lakh dark bucks will be repositioned to act as a catalyst for the rural economy," said Sitharaman.
Benefits
A huge boost to economy
"The transformation of India Post into a massive logistics organisation by revamping over 1.5 lakh rural post offices can catalyse economic growth in hinterland," said capital market company Crisil. This holistic transformation is expected to have a far-reaching impact on the country's rural economic landscape.