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Will KSRTC's financial losses from Shakti scheme exceed Rs 500 crore by Dec 31, 2024?
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Karnataka's KSRTC Proposes 15-20% Bus Fare Hike Amid Rs 295 Crore Loss from Shakti Scheme
Jul 15, 2024, 04:52 AM
The Karnataka State Road Transport Corporation (KSRTC) has proposed a bus fare hike of 15-20% due to significant financial losses. The losses, totaling Rs 295 crore over the past three months, are attributed to the Shakti scheme, a Congress initiative providing free bus travel for women in Karnataka. KSRTC Chairman SR Srinivas and other officials have indicated that the fare increase is necessary to offset these losses and address the continuous demand for salary revisions from employees. The proposal, decided in yesterday's meeting, has been placed before the authorities and will be sent to the government and the Chief Minister for approval. The Transport Minister has refuted receiving any such proposals and has declined to comment on the claims of financial loss.
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