VIJAYAWADA: Lending a helping hand to the debt-ridden AP State Road Transport Corporation (APSRTC), Finance Minister Buggana Rajendranath Reddy allotted Rs 1,572 crore in the budget. The budget allocation includes loan assistance for purchasing new buses, reimbursement of concessions and other needs.
Of the total Rs 1,572 crore, Rs 1,000 crore is for the initial payment to the bus manufactures, Rs 500 crore for assistance towards reimbursement of concessions extended to various categories of citizens, Rs 50 crore for immediate purchase of buses and Rs 22 crore for other needs.
Expressing happiness over the budgetary allocation, APSRTC Employees Union (EU) general secretary Palisetty Damodhar thanked Chief Minister YS Jagan Mohan Reddy and appealed to him to support the Corporation in the future also by merging APSRTC with the government.
He also said the losses of RTC stood at Rs 6,373 crores and staff strength is around 53,000. “Bighearted government allotted Rs 1,572 crore to the RTC. With the increase of diesel prices, the corporation will face more losses. Instead of supporting the Corporation, previous Telugu Desam government utterly failed and diverted the funds meant to employees,” Damodhar said.