HYDERABAD: The State Budget has allocated Rs 1,000 crore for the Telangana State Road Transport Corporation (TSRTC), the highest ever since the formation of the State. Of the amount allotted, around Rs 532 crore will be given as loan to the corporation for buying buses.
This move by the government comes after the 52-day strike of TSRTC employees last year. In 2018-19 only Rs 100 crore was allocated as a loan whereas in 2017-18 it was around Rs 700 crore. In December, the government has taken steps to drive the debt-ridden corporation into profits by hiking bus fares and launched cargo services.
It was estimated that the TSRTC has incurred a debt of around Rs 5,000 crore before revising the fares. Finance Minister Harish Rao said TSRTC is slowly treading into profitable path due to mitigation measures taken up by the government.