Post Office (DOP) Revenue Target Achievement and Expenditure for FY 2023-24 meeting minutes by Secretary (Posts) with Heads of Circles
Minutes of the Meetings chaired by Secretary (Posts) with Heads of Circles to review Revenue Target Achievement and Expenditure for FY 2023-24, 06.11.2023 to 08.11.2023.
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The list of the participants of Day-1, Day-2 and Day-3 is at ANNEXURE-I. The discussions and outcomes of the meeting are detailed as under:-
(I) Review of Revenue achieved by Postal Circles
2. At the outset, Secretary (PSB) welcomed all the Head of Circles and GM, Finance and informed that during the pre-Budget meeting held recently in Ministry of Finance, the PO Revenue Target of DoP for FY 2023-24 has been scaled down from Rs. 7000 Crore to approx. Rs. 5000 Crore (net). Thereafter, Secretary (Posts) raised concern over the below par performance of some Circles in the PO Revenue Target Achievement in 2022-23 as well as in current FY. Secretary (Posts) / DGPS / AS&FA mentioned that reduction of PO Revenue Target by Rs. 2000 Crore is a matter of serious concern for the Department as it would result in increase in the revenue deficit of the Department in the current and next FY's and that our focus should be on achieving this year’s Revenue target. It was informed that the Department has been consistently not achieving the BE or RE target for commercial receipts for last several years. Secretary (PSB) informed that as of 30th September, 2023, Department has earned PO Revenue of Rs. 2314 Crore and therefore, the circles need to earn roughly Rs. 3000 Crore more in coming months to achieve this year’s PO revenue target.
3. Based on the discussions held during the meetings convened from 06.11.2023 to 08.11.2023, following action points emerged:
