The deficit of Department of Posts (DoP) increased by 14.35 per cent to Rs 6,258.60 crore for fiscal 2014-15 due to increased staff costs.
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 per cent 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 per cent," 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.
Source:-The Economic Times
