New Delhi: An individual or a corporate entity can now get their photo or logo printed inside the postage stamp for Rs 12 lakh, the Department of Posts said on Wednesday.

"We have opened up customised printing of 'My Stamp' for individuals and corporates. Anyone can get his logo or photo printed inside the stamp for net cost of Rs 12 lakh. There will be 5,000 sheets comprising 60,000 postage stamps," Department of Posts Secretary S K Sinha told reporters here.

Earlier, India Post only allowed printing of photo or design next to postage stamp on a Rs 300 My Stamp sheet. These stamps can be used for general postal mail.

India Post has issued customised My Stamp for e-commerce platform Amazon India, Hindustan Aeronautics Limited and has received various proposals from various entities, including educational institutes.

"We have proposals to print My Stamp from Western Union, SNDT Women's University, Allahabad High Court and many others. Till date we have proposals worth Rs 2 crore in this fiscal while total revenue from My Stamp last fiscal was of Rs 2.83 crore," Sinha said.

When asked about if people with notorious background can get it done, Sinha said, "India Post will examine proposal and it reserves the right to reject it."

India Post is eyeing a jump of about Rs 100 crore in turnover at Rs 141 crore from the philately segment this fiscal and expects 'My Stamp' initiative to contribute about Rs 60 crore.

The Department of Post expects its total revenue to be in the range of Rs 15,000-16,000 crore this fiscal against Rs 13,037.25 crore in 2015-16. "There was fiscal deficit of about Rs 5,500 crore which we have been able to contain. In next seven years, we will be able to break even," Sinha said.

Sinha said that the Department of Post is trying to push philately even through educational institutions. "We have written to Human Resource Development Ministry to include philately as part of course curriculum of class six or seven in schools. There was bleak attempt from our department on this but now we are following it up seriously," Sinha said.

He said that India Post is also strengthening tracking of mails by introducing bar codes on letter boxes. "We did a pilot by introducing bar codes on letter box in some states. Now we have decided to expand it to pan-India. Postmen will be given mobile phones using which they will scan barcode on letter box," Sinha said.

He said that with this system in place, post office will get information about who opened the letter box, when and where. "The postmen will also upload number of letter or items collected in that letter box. This will help us in tracking status of mails as well," Sinha said. Every year India Post transacts 570 crore mails.