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August 23, 2011

Department of Posts incurred deficit of over Rs 6,345 cr in FY'11

Rajesh Kumawat | 08:37 | Best Blogger Tips
New Delhi: The annual expenditure of the Department of Posts was a whopping Rs 13,307.95 crore during FY'11, almost double its revenue of Rs 6,962.33 crore, government data showed.

"While the net expenditure of the Department of Posts stood at Rs 13,307.95 crore in FY 2010-11, its revenues stood at Rs 6,962.33 crore in the same period, resulting in a deficit of Rs 6,345.62 crore," Minister of State for Communications and IT Sachin Pilot said in a written reply to the Lok Sabha.

Similarly, in FY'10, while the Department earned Rs 6,266.30 crore, it spend Rs 12,908 crore on various activities.

The Department's deficit had jumped over 80 percent to Rs 6,641.30 crore in 2009-10 from Rs 3,593.09 crore in 2008-09 on account of the implementation of the Sixth Pay commission's recommendations.

The government has been working on revamping the Indian postal service. Internet connectivity to post offices and turning post offices to full-fledged banks are some of the initiatives being worked on to give the humble post office a radical makeover.

Besides mailing services like postcards, letters and registered parcels, the postal department offers premier services like speed-post, EMS, logistics post, and e-payment.

It also offers savings certificates and Western Union Money Transfer.

The department has a network of 1.55 lakh post offices in the country, the largest in the world, of which more than 1.39 lakh are in rural areas.

Replying to another question, Pilot said that government has approved the IT modernisation project for the DoP for computerisation of post offices.
"Government has approved the IT modernisation project of the DoP, which will involve establishment of required IT infrastructure and development of required software applications with an outlay of Rs 1,877.2 crore," Pilot said.
The IT project is expected to be implemented by 2012-13, subject to the availability of funds, he added. 



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