The deficit of Department of Posts (DoP) increased by 14.35 percent to Rs 6,258.60 crore for fiscal 2014-15 due to increased staff costs. The deficit stood at Rs 5,473.10 crore in 2013-14, the annual report of the department said. Gross working expenditure stood at Rs 18,556.56 crore in 2014-15 as against Rs 16,796.71 crore in the preceding year.
“The increase was mainly due to payment of dearness allowance/annual increment, modified assured career progression, leave encashment during leave travel concession, cost of materials, fuel etc,” the report said. Total revenue earned including remuneration from savings bank and savings certificates in 2014-15 also increased 8.44 percent to Rs 11,635.98 crore and the amount received from other ministries as agency charges (recoveries) was Rs 661.98 crore.
The total revenue for the year 2013-14 stood at Rs 10,730.42 crore and recoveries were to the tune of Rs 593.19 crore. “During the financial year 2014-15, the deficit of the Department was Rs 6,258.60 crore against the previous year’s deficit of Rs 5,473.10 crore, which is an increase of 14.35 percent,” the report added.
The Post Office provides postal services to the public through a large nationwide network. Besides providing purely postal services, post offices perform agency functions like saving bank, payment of pension, sale of cash certificate, among others, on behalf of other ministries of the government.
What a joke ,to agree for revenue on the basis of number of accounts .How Work,maintenance, time taken in transection for a 100 Rs RD deposit is equivalent to 15 lac scss deposit? Actually we are victim of IAS officers who are ruling us , their careers salary doesn't need revenue of any department so they are least bothered , otherwise they should never accepted prevailing revenue formula, it must be on the basis of Bank. Rate like bank give money to government on bank rete which is between 6 to 7 %.How government can talk about deficit when it runs all the policies, rules and systems. Why there is no restructuring ,why in a big cities there are single handed branches, what are ROs are doing in era CBS ,i can give you 100 points where all the money / expenditure is totally wasteful , magazines/ newspaper , book post are so cheap 50 paisa postcard ,philately is total waste. So please don't mourn on deficit ,this is new tactic to demoralise staff and squeeze/ crush employees further.
put it circlewise .tamilnaducircle earned rather made a profit of 440crores by september 2014 and likely to excced 1100 crores it earned in 2014 fiscal