KSRTC Seeks Rs 359 Crore

Published: 09th August 2014 08:37 AM  |   Last Updated: 09th August 2014 08:37 AM   |  A+A-


THIRUVANANTHAPURAM: The Kerala State Road Transport Corporation (KSRTC) on Friday submitted a proposal to the Finance Department to allot Rs 359 crore  for institutional strengthening and project development.

The proposal submitted to Additional Chief Secretary (Finance) V Somasundaran had excluded the demand for a special pension fund as the Finance Department had rejected the same in a meeting convened by Chief Minister Oommen Chandy the other day. The Finance Department would finalise the proposal in a couple of days. The KSRTC expects to break even using Rs 359 crore. “We have submitted the proposal mainly aiming at two things: For institutional strengthening and for project development through which we can achieve a break even,” Minister for Transport Thiruvanchoor Radhakrishnan said, adding that the pension arrears could also be settled using the amount.

The KSRTC was asked to submit a fresh proposal when Finance Minister K M Mani held discussions with Transport Minister Thiruvanchoor Radhakrishnan the other day. The Finance Department then agreed to sanction Rs 248 crore.

Highly placed sources in the Finance Department said that it would take two moredays to finalise the proposal. However, the Transport Minister’s optimism to achieve a break even with Rs 359 crore seems to be an exaggeration as the KSRTC urgently needs Rs 114 crore for settling the pension arrears itself.

Stay up to date on all the latest Kerala news with The New Indian Express App. Download now


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp