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TSRTC likely to hike bus fares
TSRTC
The Telangana State Road Transport Corporation (TSRTC) is likely to hike bus fares to pull the state-owned corporation out from debts.
The Telangana State Road Transport Corporation (TSRTC) is likely to hike bus fares to pull the state-owned corporation out from debts. The TSRTC is said to have incurred a loss of Rs 1,246 crore in the last six months of the current financial year. However, it managed to rake in Rs 178 crore of profits compared to last year.
The appointment of new TSRTC managing director and chairman is also the reason to run the corporation in profits as it suffered huge losses due to the pandemic where the buses were confined to the depots for several months and decrease in the patronage fearing of contracting virus.
During the Dasara season, TSRTC witnessed profits of Rs 3.5 crore and it also created a record by collecting Rs 14.79 crore in a single day.
The TSRTC is mulling to increase the bus fare after Diwali and also received a positive response from the government during a review on RTC. The CM directed the officials to submit a report on the percentage of bus fare hike to pull the RTC from losses. Around 15-20 per cent hike in fare is expected in view of hike in fuel prices.
Meanwhile, the officials are expecting an income of Rs 16-18 crore to prevent losses.
