India Post losses touch Rs 15,000 crore in FY19; replaces Air India, BSNL as biggest loss-making PSU
- 863
- 13
-
- Last Comment
India Post losses touch Rs 15,000 crore in FY19; replaces Air India, BSNL as biggest loss-making PSU
In the past three fiscals, the revenue deficit of the Department of Posts, trading as India Post, has ballooned nearly 150% from Rs 6,007 crore in FY16
- Sort By
what about their various schemes like MIS KVP Senior citizen scheme are they still popular
Postal services run at a loss everywhere because uneducated people get paid more than people with PG degrees to deliver very cheap mail mostly by foot. So a mail that costs rs5 in stamps get delivered by someone making rs100 to deliver it.
Closing them down is not the answer most of the time. But they should cut down costs and such.. But in countries like india people take such jobs because of life time security.. Its like social services.. Not because a job needs to get done, but to provide income to people.. The issue is, the income provided is so large that the rest of society have a hard time paying for it.
India Post is a department of Govt of India. It is NOT a PSU. A PSU is a separate legal entity formed under the companies act (or some other act). The idiot reporter does not even know this basic difference.
even this site says same – India Post as a PSU
India Post now biggest loss-making PSU, loses Rs 15,000 crore in FY19
Achhe din
PSU?
Its fully owned by GOI