Budget 2009 Expectation: (BUDGET WISH LIST) : date 23.06.2009
Need for reforms in Postal Department services and introduction of Agricultural Loans to farmers through e enabled Post Offices.
It is agreed fact that Postal Department at present is doing enormous service to the nation. In this age of computerization, all out efforts should be made to bring the performance of Postal Department at par with Banks to stimulate overall growth in Indian Economy.
Postal Department services viz., Money orders, savings bank accounts, deposit accounts, Monthly Income Plans, Recurring Deposits etc are being used maximum by farmers in the remote areas and Sr.citizens at all places.
All the postal services are more investment oriented in nature and do not boost morale to farmers in concentrating on more production/growth by providing agricultural loans. Hence all the loans associated with agricultural production should be made easy through single-window system of post offices to build confidence among farmers. Insurance products should also be sold through Postal Department to all farmers.
Banks doing the similar service should be allowed to concentrate more on other areas viz., Manufacturing, Industy, etc., to promote over all economic growth to the nation.
Hence, we need the Finance Minister to give more thrust on transformation of Post Offices to Postal Banks for the sake of agricultural growth and farmers' welfare.
With regards.
V. V. Ramagopala Rao
BHEL Corporate R&D unit
Hyderabad-500 093
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