No plans to spend money in dormant PO a/cs on schemes: Govt

By: | Published: July 27, 2016 3:52 PM

There are no plans to appropriate unclaimed money lying in post office accounts to fund social sector schemes, but the government may consider the issue in future, the Lok Sabha was informed today.

The response of the Communication Minister came a day after trade unions disrupted a meeting of EPFO trustees protesting against the government's decision to appropriate unclaimed PF money for funding senior citizens' welfare schemes. (PTI)The response of the Communication Minister came a day after trade unions disrupted a meeting of EPFO trustees protesting against the government’s decision to appropriate unclaimed PF money for funding senior citizens’ welfare schemes. (PTI)

There are no plans to appropriate unclaimed money lying in post office accounts to fund social sector schemes, but the government may consider the issue in future, the Lok Sabha was informed today.

Responding to a supplementary by a BJP member, Communication Minister Manoj Sinha said there are no plans to use such money lying in dormant accounts.

As per rules and laid down laws, the money remains with government till the kith and kin of the account holder are informed about the account, he said.

But at the same time, Sinha said in the coming days, government would consider the suggestion. The response of the Communication Minister came a day after trade unions disrupted a meeting of EPFO trustees protesting against the government’s decision to appropriate unclaimed PF money for funding senior citizens’ welfare schemes.

Responding to another question, he said the department lacked postal workers but there were plans to redeploy the staff to utilise their services at the 1.50 lakh post offices across the country.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition