TSRTC likely to hike fare of ordinary buses by 25p/km, 30p/km for express
Kumar said that the decision of fare hike was taken to reduce the burden on the RTC which was reeling under heavy losses due to the increase in diesel prices frequently by the Central Government.
By Newsmeter Network Published on 1 Dec 2021 12:29 PM GMT
Hyderabad: To bailout from the heavy losses incurred by Telangana State Road Transport Corporation (TSRTC), a proposal for a fare hike of 25 paise per kilometer for ordinary and Palle Velugu bus services and 30 paise per kilometer for express and other services will be submitted to Chief Minister K Chandrashekar Rao, said Transport Minister Puvvada Ajay Kumar.
Announcing this at a press meeting on Wednesday, Kumar said that the decision of fare hike was taken to reduce the burden on the RTC which was reeling under heavy losses due to the increase in diesel prices frequently by the Central Government.
He said that the RTC had suffered losses during the Covid-19 period. The RTC had incurred Rs 4,260 crore losses during the last three years. The fare hike was to overcome this to some extent, he said.
Elaborating the RTC income and expenditure during the last three years, the Minister said that the income of RTC was Rs 4,882 crore during the financial year 2018-19, whereas the expenditure was Rs 5,811 crore. The loss was Rs 919 crore.
He further explained that during the financial year 2019-20, the RTC income was Rs 4,592 crore and the expenditure was Rs 5594 crore. The loss was Rs 1002 crore. In the fiscal year 2020-21, the RTC income was Rs 2,455 crore and the expenditure was Rs 4,784 crore.
The loss was Rs 2,329 crore. The RTC would generate about Rs 850 crore with the fare hike, the Minister said.
Quoting a survey report undertaken by the RTC in association with a private firm, the Minister claimed the people were not against fare hike and only 4.3 percent of people raised objections. TSRTC Managing Director V C Sajjanar requested the state government to accept the proposal of the fare hike.
