Transport minister Kailash Gahlot took the decision while chairing the board meeting of the DTC on Monday.
The board also agreed to extension of student concessional bus pass facilities to all bonafide institutes within Delhi extending the benefit to the students of educational institutions set-up after 2002.
The board resolved on de-freezing the pension benefits -- that includes enhancement of DA after July 2014, enhancement of medical allowance from Rs. 300 to Rs. 500 per month per pensioner after November 2014, extension of the benefits on account of fixation and age factor and revision of pension in accordance with the recommendation of the seventh Central Pay Commission from January 2016.
Of the 500 buses, 80 per cent will be non- AC and 20 per cent will be AC buses.
For more Delhi news, click here