The Telangana State Road Transport Corporation (TSRTC) increased fares on its buses to the tune of approximately 5 per cent on the rural ‘Palle Velugu’ services and up to 10 per cent on other services, effective from the first service early on Monday, June 27. The last time an increase was effected was in November, 2013.
At a press conference to announce the fare hike, Transport Minister P. Mahender Reddy said the move had become inevitable and pointed out that it would fetch the financially-beleaguered corporation an additional revenue of Rs. 286 crore a year. “We tried our best to avoid burdening the common man but this move was inevitable,” he said, flanked by corporation Chairman Somarapu Satyanarayana and Managing Director G.V. Ramana Rao. “The TSRTC has outstanding loans of about Rs. 2,275 crore apart from an operational loss every day to the tune of Rs. 2 crore. Last financial year, he said, the corporation incurred operational losses of Rs. 701 crore
Concessional fare burden
Chief Minister K. Chandrasekhar Rao on Thursday met Transport Minister P. Mahender Reddy, TSRTC Chairman Somarapu Satyanarayana and Managing Director G.V. Ramana Rao and said the government would release Rs. 300 crore as a financial grant. Mr. Chandrasekhar Rao also assured the senior TSRTC officials that the government would bear the Rs. 500 crore that was being incurred towards concessional fares.
