Mains Paper 2: Governance | Government policies and interventions for development in various sectors
From UPSC perspective, the following things are important:
Prelims level: E-commerce Regulation in India
Mains level: Providing e-market place for various groups of entrepreneurs.
- Leveraging its parcel business network, India Post has announced the soft launch of its e-commerce portal.
Particulars of the Portal
- The primary objective is to provide a medium to sell products for small artisans and anyone who wants to sell their product can sell on the site.
- Unlike other e-commerce players, the India Post service will be able to pick up and deliver products in over 1.5 lakh places through its well spread out network.
- The products will be shipped through the postal department’s Speed Post service.
- A separate parcel directorate has been formed which is empowered to decide on the rates of parcel and other related issues.
- The Portal will provide an e-market place to sellers especially to rural artisans, self-help groups, women entrepreneurs, state and central PSUs, autonomous bodies to sell their products to buyers across the country.
- The Minister also launched the internet banking facility for Post Office Savings Bank (POSB) customers who are under Core Banking Solution.
- Around 17 crore POSB accounts will be intra-operable and customers can also transfer funds online to RD (Recurring Deposit) and PPF (Public Provident Fund) accounts of post offices/
Why such move?
- The Department of Posts has been focussing on the e-commerce sector to increase its revenue receipts.
- The Department facilitates has collected and remitted more than Rs 27 billion under cash on-delivery till January 2018 since its introduction in December 2013.
- The ongoing e-commerce business segment has resulted in an increase of 13 per cent revenue of India Post in the 2017-18.