The India Post Budget for 2024 allocates a total gross budget of ₹38,917.24 crores. This budget encompasses expenditures related to establishment, postal operations, India Post Payments Bank (IPPB), human resource management, estates management, and IT modernization.
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The Indiapost (Post Office) budget breakdown is as follows:
- Gross Budget: ₹38,917.24 crores
- Recoveries: -₹1,300.00 crores
- Receipts: -₹12,238.77 crores
- Net Budget: ₹25,378.47 crores
Expenditure relating to establishment: This covers expenses such as salaries, pensions, and operational costs incurred by the Department of Posts.
Postal Operation: The budget includes initiatives to enhance postal services, including setting up Speed Post Hubs, Parcel Booking Centres, and Road Transport Networks. It also involves infrastructure upgrades in mail offices, parcel centers, and international business centers. Additionally, funds are allocated for the establishment of Dakghar Niryat Kendras (DNK) and Branch Post Offices in Left Wing Extremist affected areas, along with providing access to post offices in rural areas. The budget also includes provisions for Common Services Centers, promotion, publicity, marketing, and obtaining Quality of Services (QoS) certification.
India Post Payments Bank (IPPB): Funds are allocated to provide capital support to the India Post Payments Bank.
Human Resource Management: The budget includes provisions for expanding training facilities and other aspects related to human resource management within the Department of Posts.
Estates Management: Funds are allocated for managing estates, including the construction of buildings required for postal operations.
IT Modernization Project 2.0: A significant portion of the budget, amounting to ₹748.02 crores, is allocated to the IT Modernization Project 2.0. This project aims to modernize IT infrastructure within the Department of Posts. Additionally, ₹250 crores are allocated for the India Post Payments Bank (IPPB), indicating a focus on enhancing digital banking services and infrastructure.
Overall, these budget allocations demonstrate a comprehensive approach to improving postal services, enhancing infrastructure, and modernizing IT systems within the India Post framework, aligning with broader efforts to advance digital initiatives and financial inclusion in the country.
