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KSRTC bus ticket prices to increase amid rising costs
In response to escalating costs of milk, petrol, and diesel, the Karnataka State Road Transport Corporation (KSRTC) is poised to increase bus ticket fares
Tumakuru: In response to escalating costs of milk, petrol, and diesel, the Karnataka State Road Transport Corporation (KSRTC) is poised to increase bus ticket fares. S.R. Srinivas, MLA of Gubbi and President of KSRTC Corporation, announced that a proposal has been submitted for a 15 to 20 percent fare hike.
A board meeting resulted in a proposal to the government to increase ticket prices, marking the first such increase since 2019. Given the rising oil prices, Srinivas stated that an increase in fares is inevitable to accommodate employee salary hikes and benefits. The last salary revision for KSRTC employees, which was due in 2020, will now enforced in 2024, necessitating the fare increase to sustain operations.
KSRTC has reported a loss of ₹295 crores in the past three months. Additionally, a proposal for 40 new Volvo buses has been submitted to the government, with 600 regular buses already procured. Srinivas emphasized that a 15%-20% fare increase is crucial for KSRTC’s survival.
While the fare hike will affect male passengers, female passengers traveling under the Shakti Yojana scheme will not bear the increased cost, as the government will cover their fare. Srinivas highlighted the necessity of the rate hike to ensure KSRTC’s continued operation. Congress MLA S.R. Srinivas pointed out that the Corporation is also suffering financial losses due to power projects, along with increased costs for diesel and bus spare parts. Despite not raising fares for the past 10 years, the North Western Karnataka Road Transport Corporation is also considering a fare increase. According to President Raju Kage, they plan to renovate and rent out old buildings owned by the organization to offset some of the financial strain.
The fare increase proposal is now under the discretion of the Chief Minister. Srinivas reiterated that the fare hike is an essential step for the sustainability of KSRTC, ensuring that the corporation can continue to provide services and meet its financial obligations.
