- The State Transport Authority approved a 13.56% fare hike for MSRTC buses
- The fare increase will take effect from midnight between July 17 and July 18
- MSRTC operates over 14,000 buses serving more than 55 lakh daily passengers
The State Transport Authority (STA) has approved a 13.56 per cent fare hike for the Maharashtra State Road Transport Corporation (MSRTC) buses, officials said on Friday.
The hike, necessitated by rising diesel prices and other factors, will be implemented from midnight between July 17 and July 18, a senior official said.
MSRTC is one of the largest public bus service corporations in the country with a fleet of more than 14,000 buses. Daily more than 55 lakh passengers use its bus service.
The existing 10 per cent seasonal fare hike for ordinary buses will be withdrawn, the corporation said in a release. On July 15, the corporation had extended the seasonal fare hike till the month end.
The fare revision was approved in view of rising diesel prices amid the geopolitical situation in the Gulf region, higher expenditure on employees' allowances, and increased costs of spare parts, tyres and vehicle maintenance, the release said.
The hike was necessary to ensure the corporation's financial sustainability, it added.
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