Finance Minister Nirmala Sitharaman  announced the government’s plan to transform India into a large logistics organisation with 1.5 lakh rural post offices.

Presenting her eighth straight budget, Sitaraman said India Post will be transformed into a large public logistic organisation with 1.5 lakh rural post offices to become a catalyst for the rural economy. Notably, this will meet the rising needs of Viswakarmas, new entrepreneurs, women, self-help groups, MSMEs, and large business organizations.

With quality products, she said, MSMEs (micro, small and medium enterprises) are responsible for 45 per cent of our exports. Presenting the 14th consecutive Budget under the Narendra Modi-led government since 2014, the finance minister said the government will enhance credit guarantee cover for MSMEs to improve credit access.

On the rural economy, Sitharaman said the Centre will provide support to the National Cooperative Development Corporation for lending operations.