The employees have gone on strike demanding higher wages and say they will not call off their strike till their demands are met.
Several people going home to their villages for Diwali will be affected by the strike as the state transport buses reach the most rural locations across the state. There are several villages across the Maharashtra that can be reached only by buses run by the corporation.
Around 14,000 State Transport buses will stay off the roads across the state as part of the strike.
Union leader Kailash Pandurang Karad told NDTV, "We tried speaking to the authorities many times but they did not listen to us. We understand its festival time but even we have to run our families and this strike is our last resort."
Mr Karad rejected the argument that the corporation has been making losses for years and increased wages would put additional pressure on its finances. He said, "We know how these losses are being made. The losses are not because of the employees."