Acknowledging that the Telangana State Road Transport Corporation (TSRTC) has been facing financial troubles for a variety of reasons, Finance Minister Harish Rao on Thursday proposed a massive allocation of ₹3,000 crore for the transport juggernaut, half of which would go towards extending the guarantees of loans.
“An amount of ₹1,500 crore is proposed in this Budget towards assistance to RTC. The government is extending guarantees to loans raised by RTC. For this an amount of ₹1,500 crore is proposed. With these measures, the government is confident that the financial position of the RTC will improve. Thus, a total amount of ₹3,000 crore are proposed to be provided to the RTC in 2021-22,” Mr. Harish Rao said on Thursday.
Soon after the ₹3,000 budgetary allocation was announced, as per a press release, employees and officers of the TSRTC thanked Chief Minister K. Chandrasekhar Rao and Transport Minister Puvvada Ajay Kumar.
The TSRTC Employees’ Union too thanked the CM and Finance Minister for the increased allocations.
