Postal department deficit widens to Rs 11,000 crbusiness Updated: Apr 12, 2017 17:29 IST
New Delhi: Finance Minister Arun Jaitley along with Telecom Minister Manoj Sinha and Secretary of Post AP Singh releasing commemorative stamp during the launch of pilot branches of India Post Payments in New Delhi on Monday. (PTI)
Deficit of the Department of Posts widened to Rs 11,138.84 crore in February this year on account of wage revision under the 7th Pay Commission.
The revenue of the postal department was Rs 10,292.18 crore and expenditure Rs 21,431.02 crore, Communications Minister Manoj Sinha said in a written reply to the Lok Sabha.
The deficit widened as a result of the implementation of 7th Central Pay Commission recommendations, he said.
In 2015-16, the deficit of DoP was Rs 6,007.18 crore, with revenue receipts totalling Rs 12,939.79 crore and expenditure amounting to Rs 18,946.97 crore.
“Department of Posts takes action, from time to time, to induct technology and upgrade the system to cater to the growing market requirements and to increase revenue earnings,” Sinha said.
The department has plans to open 166 new branch post offices and 80 sub post offices during the current financial year, 2017-18.
The DoP has 1,54,802 post offices which include 812 head post offices, 24,566 sub-post offices and 1,29,424 branch post offices. The department has computerised 25,348 post offices till date. PTI PRS SA
First Published: Apr 12, 2017 17:29 IST